TwinsTalkStocks, 8 year old twins Ashay Jorel & Devin Kalel, take Tesla (TSLA) out for a spin.
Tesla was incorporated in July 2003 by Martin Eberhard & Marc Tarpenning. Elon Musk, Co-Founder of Paypal (PYPL) led the Series A Investment in February 2004 and became its chairman.
On June 29, 2010 Tesla became the 1st American car maker to go public since Ford had an IPO in 1956. Tesla’s IPO price was $17. It had its first quarterly profit in its ten year history (at that time) on May 9, 2013. That day the stock was $69.70. On Friday March 4, 2016, TSLA closed at $201.04. The stock has run up the past two days partly because rumors are out the Elon Musk might take Solarcity (SCTY) private at a premium. He’s currently the Chairman of Solarcity.
TSLA has a 3 step strategy:
* Step 1: High Price, Low Volume
Tesla Roadster base price was $109,000
* Step 2: Mid Price, Mid Volume
Model S base price was $57,400
* Step 3: Low Price, High Volume
Model 3 projected base price will be $35,000
On March 31st, the Model 3 will be unveiled by master showman Elon Musk. Invites to the event have started to arrive. We’re still waiting to receive our invite, Elon 🙂
The retail stores/showrooms will take $1,000 refundable deposits on March 31st. Or you can place online a $1,000 refundable deposit on teslamotors.com the next day on April 1st, April’s Fool’s Day.
Tesla has sold 100,000 cars so far. Since the deposit requirement & price point of the Model 3 is much less than previous versions, it’s possible it could get deposits for 100,000 cars. That would be $100 million!