Tesla (TSLA) Stock is one of the hottest tech stocks around with a massive market cap of over $250 billion and will be included in the S&P 500 this 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.
I'm buying Tesla stock before the stock split record date of August 21st, 2020. Apple stock went on a tear after they announcede their 4 to 1 split and I think Tesla stock could have a similar effect.