Shares of Tesla rose +0.92 after-hours on Tuesday adding to its gains of the day. This AH pop was due to a $500 price target released by Nomura. It’s important to notice that this is the highest price target out there currently and while I personally agree with Nomura’s optimism I do have some doubts about how TSLA will reach such a price level
In fact, if you take a look at the chart below that I posted yesterday you can see multiple gaps that have yet to be filled.
To conclude, I think this bullish price target may give the stock a nice spike in the short term. However, based on my experience, these gaps will need to be filled sooner rather than later. Probably, before reaching $500.