Is Tesla a penny stock?
Before they made it big, Apple, Microsoft, Netflix, Nvidia, and Tesla all started as penny stocks. You could have bought stock for pennies and sold it for hundreds, or even thousands, of dollars per share. That's the dream for most penny stock investors.
Today's piece focuses on some of the most successful penny stocks in history, and these firms have seen their share prices jump exponentially since they were first listed. Among these, the top performers are Advanced Micro Devices, Inc. (NASDAQ:AMD), Amazon.com, Inc. (NASDAQ:AMZN), and Tesla, Inc.
- TLRY2.470.70% Tilray Brands, Inc.
- SNDL2.470.46% SNDL Inc.
- AGBA2.830.48% AGBA Group Holding Limited.
- MJNA0.000.00% Medical Marijuana, Inc.
- JAGX0.210.01% Jaguar Health, Inc.
- AITX0.000.00% Artificial Intelligence Technology Solutions Inc.
- GMM1.480.55% Global Mofy Metaverse Limited.
- AKLI0.400.17%
According to S&P Global Market Intelligence, the consensus analyst target price for Tesla stock is $186.95, representing implied upside of 13% to current levels. Meanwhile, the consensus recommendation is a Hold. Aside from Ark Invest, Wedbush is one of the more bullish firms on the Magnificent 7 stock.
Timothy Sykes - Millionaire Penny Stock Trader.
By 2021 Gracias's personal stake in Tesla grew to be worth approximately $1 billion, thanks to the electric vehicle firm's skyrocketing share price, Tesla's generous director compensation and the lion's share of Valor distributions—for example, 50% of profits distributed to general partners from Valor's venture fund, ...
We view Tesla as undervalued, with the stock trading in 4-star territory. We had four key takeaways. First, the company's affordable vehicle is still on track for first deliveries by the end of 2025. This is a catalyst for shares.
| Name | Book Value | 1 Year (%) |
|---|---|---|
| J Taparia Projects | ₹ 18.56 | 345.61% |
| Rasi Electrodes | ₹ 9.45 | 52.90% |
| 3P Land Holdings | ₹ 37.75 | 24.68% |
| SAL Steel | ₹ 4.87 | 110.65% |
| Name | Price | Alpha |
|---|---|---|
| RattanIndia Power Ltd | ₹9.20 | 162.67% |
| GTL Infrastructure Ltd | ₹1.70 | 107.47% |
| Vikas Lifecare Ltd | ₹5.30 | 42.4% |
| Sarveshwar Foods Ltd | ₹9.05 | 250.68% |
| Company (Ticker) | Sector | Market Cap |
|---|---|---|
| Ardelyx (ARDX) | Health care | $1.49B |
| Savara (SVRA) | Health care | $637.00M |
| Iovance Biotherapeutics (IOVA) | Health care | $3.25B |
| iQIYI (IQ) | Communication services | $4.79B |
Will Tesla stock recover in 2024?
Tesla Stock Valuation
Analysts now sees 2024 earnings per share targets at $2.50 a share, according to FactSet, down from $3.79 at the end of 2023, $5.62 a share at the end of March 2023 and a whopping $7.07 at the end of 2022. So the forward price-earnings ratio for Tesla stock is 68.1 as of April 25.
Analyst Forecasts
Currently, 32 Wall Street analysts follow Tesla stock, and they have a consensus “buy” rating on the company. Their average 12-month price target is $207.30, marking a potential gain one year out of about 27%.
Tesla Shares: A Fair Value Estimate
With its 3-star rating, we believe Tesla's shares are fairly valued compared to our long-term fair value estimate. In 2024, we forecast Tesla will see a far slower growth rate, with deliveries increasing just 10% to a little under 2 million, from a little over 1.8 million in 2023.
Can you make money with penny stocks? Yes, you can make money with penny stocks, but you can also make money playing the lottery, though you probably won't. To make money in penny stocks, you have to be able to separate the good companies from the bad, and that means you have to be able to analyze companies.
Monster Beverages NASDAQ: MNST
In 2003, savvy investors could have scored Monster shares for as low as $0.25. Instead, this former penny stock has seen massive gains for investors that have continued to hold for the past decade, hence why they're a part of our famous penny stocks list.
Some companies, such as Amazon (AMZN) originated as penny stocks but later grew into sizable blue-chip companies.
This means that your $1,000 10 years ago — technically, $1,002 — would have bought 60 shares of Tesla. As of Mar. 3, 2024, those 60 shares of Tesla would be worth $12,158.40. That marks a 28.342% annual rate of return.
A $1,000 investment could have purchased 50.92 Tesla shares at the time. The $1,000 investment would be worth $9,223.14, which would be up 822.3% over the last nearly five years.
“Charlie and I for long have felt that the auto industry is just too tough,” Buffett said. “It's just a business where you've got a lot of worldwide competitors, they're not going to go away. And it looks like there are winners at any given time, but it doesn't get you a permanent place.”
Analyst project a solid increase in 2025 to $4.13 a share. However, Wall Street has slashed projections from $5.27 at the end of last year and $6.90 at the end of February 2023. Meanwhile, actual Tesla earnings peaked in 2022 at $4.07 a share.
Is Tesla stock likely to recover?
“Tesla first quarter 2024 [is] likely the bottom,” wrote New Street Research analyst Pierre Ferragu in a Thursday report. He expects first-quarter deliveries to come in around 420,000 units, but also expects delivery growth and a recovery in profit margins later in 2024. Investors hope that's the case.
Tesla shares slide to 15-month low ahead of earnings, as Wall Street frets over price cuts, layoffs. Tesla's stock dropped for a seventh straight day Monday, reaching its lowest price since January 2023. Over the weekend, the company cut electric vehicle prices in the U.S., China and Europe.
| S.No. | Name | ROCE % |
|---|---|---|
| 2. | Lloyds Metals | 81.99 |
| 3. | Deepak Nitrite | 29.70 |
| 4. | NMDC | 30.22 |
| 5. | Apar Inds. | 51.14 |
- G G Engineering Ltd.
- Globe Textiles (India) Ltd.
- Growington Ventures India Ltd.
- Aakash Exploration Services Ltd.
- Debock Industries Ltd.
- Kenvi Jewels Ltd.
- Gautam Gems Ltd.
- Vivanta Industries Ltd.
| Name | Price | Analyst Price Target |
|---|---|---|
| VTNR Vertex Energy | $1.49 | $2.51 (68.46% Upside) |
| YYAI Connexa Sports Technologies | $0.89 | ― |
| GOEV Canoo | $2.85 | $5.10 (78.95% Upside) |
| BTBT Bit Digital | $1.98 | $5.17 (161.11% Upside) |
