The most important thing in a backup scheme is to ensure that itÂ . |To learn more about portable hard drives, and portable media, read our Â .Despite no notable new product launches, Tesla and SolarCity continue their year-long quest to expand their markets and increase sales. The two stocks have finally begun showing signs of momentum. Let’s take a look at how this market is changing…
1. SolarCity (SCTY):
SolarCity (NASDAQ:SCTY) added a cool $0.49 to $41.05 today, closing at its highest level since March. Shares are up over 12% YTD. With nearly $390 million in new funds raised in Q3, I think the earnings and balance sheet recovery is underway.
Today’s move higher on the heels of SolarCity Q3 earnings came after we saw an upgrade to the “overweight” rating on SCTY by Compass Point Research and Elliot Management.
2. Tesla (TSLA):
Tesla (NASDAQ:TSLA) bounced back from today’s massive drop in shares. In doing so, Tesla managed to gain nearly 9.4% to $132.62. While this move was certainly oversold, the size of the drop seemed to be larger than I would have anticipated.
The wild swings in TSLA have caused shares to become overvalued in my view. If nothing else, today’s drop has demonstrated how dependent shares really are on the release of next quarter’s earnings.
3. Tesla Motors (TM):
Tesla Motors (NASDAQ:TM) looks like it will likely be the first IPO to hit the overpriced stock market this year. Shares fell 15% to $158.87, but bounced back 20% to $199.17 and closed higher by over $60. Tesla’s impressive 2013 earnings of $438 million were driven by the introduction of the Model S, which has taken significant market share from the Volt and ZEVs.
Revenues are projected to increase 28% YTD to $3.48 billion. 2015 EPS are forecasted to be $4.27 per share and to grow 25% YTD.
Despite the lower price to book, shares of TM are still nearly 60% overvalued on a price to earnings