Can Tesla Stock See a Santa Claus Rally This Year?

Read The Full Article On: Marketrealist

Tesla stock

For Tesla stock, the fourth quarter is similar to the fourth quarter of 2018 in more than one way. The stock is outperforming the markets this quarter like it did last year. The stock posted a profit in the third quarter like it did in 2018. However, the company also posted a profit in the fourth quarter of 2018. Looking at analysts’ estimates, Tesla will likely post a net profit in the fourth quarter. If that turns out to be the case, Tesla would have its sixth profitable quarter. For the second time since 2018, the company would post a profit for two consecutive quarters. After rising sharply in October and November, can Tesla stock continue its good run in December? Should investors expect a Santa Claus rally this year? First, we’ll discuss what has been driving Tesla’s price action over the last few months.

Read The Full Article On: Marketrealist

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