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JB
Jason Bellier
@neostonks · Jun 9

Now, just for fun, I looked at the premarket action and I couldn't miss Tesla $TSLA, which is up over +5% there today! The reasons are really quite bullish and we'll look at them below 👇

The reason for the rise? General Motors announced that it will join Ford and team up with Tesla to leverage their North American network of fast charging stations and cutting edge technology. This means GM cars will soon be able to charge at Tesla's 12,000 fast charging stations using an adapter and GM's EV charging app.

And that's not all - GM will switch to the North American Charging Standard (NACS) used by Tesla starting in 2025. This major move should save the company an astonishing $400 million of its $750 million invested in EV charging.

But what does this mean for Tesla? It's a huge achievement for the charging technology giant, and it puts pressure on other automakers and even the U.S. government to adopt Tesla's charging technology as an industry standard.

So buckle up - it looks like Tesla is leading the race towards a greener and more electrified future!

BC
Bill Combs @billcombs Jun 9

Well, that's great news. Looks like Tesla is really going to do well now.

MD
Monday Dayton @mondaydayton Jun 9

That's great news, I wish it to Musk and although the growth is already fast, it looks like he will really give the 300$ per share, maybe even higher.

AA
Ashraf Aboudar @ashraf_dd Jun 9

Well, it's looking very positive. Could there be some nice intraday scalp opportunities after the open? If it goes, it could be nice.

MD
Monday Dayton @mondaydayton Jun 9

I'm thinking about it, but I'm scared because now a few days in a row it's always a jump higher, but whatever, I guess that's the way it is when there's all good news

RR
Rickie Reeve @rickiereeve Jun 9

So who's next? 😉

JB
Jason Bellier @neostonks Jun 9

There will probably be no shortage of candidates, it makes sense for all parties.

CB
Clifford Barclay @cliffordbarclay Jun 9

Oh yeah, and they haven't officially announced model 2 yet, I guess I need to move the price target (for me that means the price at which I'm willing to sell some of it again and reinvest in riskier ones🚀/⚰️) for 2023 from $300 to $500 because in my opinion there's nothing stopping a return to $300 and bullish news and the market will drive it much higher.

No recommendation, just an opinion 🙂

JB
Jason Bellier @neostonks Jun 9

It can definitely increase the target, one positive report after another will help a lot.

MW
Moe Whitehead @investormoe Jun 9

Interesting news, let's see how the competition reacts to this. No other car company has as well laid out a charging system as Tesla.

JB
Jason Bellier @neostonks Jun 9

What can the competition do? Join or spend millions (maybe billions) on their own network, risking that competitors will use the spare funds to grow while they trudge along with their own network.