Tesla (TSLA) Stock is one of the hottest tech stocks around with a massive market cap of over $600 billion and was included in the S&P 500 last year. There are many reasons to own Tesla stock and the recent 5 to 1 stock split should increase interest in shares through the future.
Here’s a simple list of reasons why I think Tesla stock is a strong buy:
- Great Products: Customers love Tesla’s products. They are known as the Apple of electric cars.
- Sound Management: Elon Musk is a really smart guy and sets the tone for innovation at Tesla. As long as he remains CEO, Tesla shares should increase over time.
- Finally Profitable: Tesla is now profitable and incluson into the S&P 500 will do wonders for the stock price because institutional investors must buy the stock for their index tracking funds.
- Solar is the Future: Our dependence on oil will lessen throughout the decade. Society moves towards clean solar energy.
Tesla is one of the top returning stocks so far this decade recording a massive 600% return in 2020. New innovations like the Cybertruck will also add a lot of revenue growth for shareholders.