Hi Pat: Thanks for all the excellent advice over the years. I’m curious to know your thoughts on Tesla Motors. Does it have staying power and growth ahead, or does it look like a flash in the pan? Thanks.
Tesla Motors, $183.68, symbol TSLA on Nasdaq (Shares outstanding: 121.5 million; Market cap: $22.3 billion, www.teslamotors.com), develops and builds fully electric vehicles.
The company makes the Roadster, the first commercially produced, federally compliant highway-capable electric vehicle in the U.S. According to the Environmental Protection Agency, the Roadster has a range of 236 miles on a single charge; the Model S, which was first sold in June 2012, can go 300 miles per charge.
Tesla operates its own sales and service network and now has 32 locations in North America, Europe and Asia.
The company has set a goal of shipping 800 cars a week by late 2014. It also aims to develop a new vehicle that would cost $25,000 to $35,000 (the Model S sells for about $70,000). However, it is uncertain that it can profitably achieve that goal.
Right now, Tesla is losing money. It could earn as much as $1.05 a share in 2014, but it still trades at…
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