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Tesla (TSLA) Stock Has Already Doubled in 2020
Electric car maker Tesla (TSLA - Free Report) is having a really good year so far. Since January 1, shares have skyrocketed over 100%, and on Monday alone, TSLA climbed 19.9%; this is the stock’s biggest one-day return in six years.
TSLA’s big run has been fueled by analysts raising price targets just to keep up with the stock. The average 12-month price target is $493 per share, which is more than 40% below where TSLA traded in premarket trading on Tuesday.
Shares have also benefitted by something called a “short squeeze.” If enough short-sellers buy at the same time, it can create high demand and drive shares even higher. Short-sellers, however, are down over $8 billion since the start of the year betting against TSLA.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>