Tesla Motors Inc (NASDAQ:TSLA) is executing like no one else in the automotive industry right now. The company’s stock seems to be taking note of all the developments and announcements. Since making a minor low near the $220 level, Tesla Motors Inc (NASDAQ:TSLA)’s stock has continued its upward march and currently trades at $285 levels. While Tesla Motors Inc (NASDAQ:TSLA) is creating magic while being based in the U.S., other auto manufacturers are not able to replicate any of it even after having the advantage of lower cost locations. Jim Cramer and David Faber discussed today on CNBC, Tesla Motors Inc (NASDAQ:TSLA)’s growth and the prospects for the global auto industry.
Tesla Motors Inc (NASDAQ:TSLA) is also expected to announce Nevada as the State where its Gigafactory would be based. If that happens, Nevada would triumph over other states like California, Texas, Arizona and New Mexico in their quest for becoming the home of Tesla Motors Inc (NASDAQ:TSLA)’s Gigafactory.
“[…] Tesla Motors Inc (NASDAQ:TSLA) continues to amaze. These are big projects . I mean, we talk about Europe, there is nobody, there is no Tesla Motors Inc (NASDAQ:TSLA) there, there is no Silicon Valley there. This is what Germany needs to do, I mean, the BMW is a great company, so where does BMW put up the factory? In Guanajuato, Mexico,” Cramer said.
According to Cramer, companies like BMW are putting up plants in places where they are getting a low-cost advantage, but there is not much demand for their cars in such places. According to him, Tesla Motors Inc (NASDAQ:TSLA) is not only producing great cars, it is also helping in improving the employment situation in places where it is setting up its company. Faber agrees with Cramer and feels that taking aside Tesla Motors Inc (NASDAQ:TSLA)’s stock price, what the company is currently doing is phenomenal.
As of June 30, 2014, Daniel Benton’s Andor Capital Management owns 1.24 million shares in Tesla Motors Inc (NASDAQ:TSLA).
Disclosure: None
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