Tesla (NASDAQ: TSLA) has been one of the biggest stock stories of 2020. With shares sporting gains of nearly 550% just since Jan. 1, those who've believed in the business model that CEO Elon Musk has built have profited handsomely. Musk himself has been among the biggest winners in Tesla stock, vaulting to the No. 3 spot among the world's richest people, according to Forbes.
In the long run, stock movements reflect the success or failure of a company's underlying business. Short-term share price swings are a lot harder to gauge. Nevertheless, there's a good reason why Tesla's stock looks like it's headed to $600 per share in the very near future. It could go much higher if the conditions are right.
Image source: Tesla.
For further details see:
Here's What's Pushing Tesla Stock Toward $600 -- and Beyond