Tesla's (TSLA) stock has soared to new all-time highs, crossing the $1,000/share mark for the first time.

Over the past few months, TSLA's strength can be mainly be tied to better-than-expected production and delivery figures, along with resilient unexpected demand. On the stock front, the stock has benefited from strong hands and weak/dwindling short sellers.

The latest ramp has come at the hands of robust demand in China for its lower-priced Model 3 vehicle. In May, sales for the car in China tripled from the prior month (this is during a worldwide pandemic).

Today, the stock is surging following the release of a memo from fearless huckster Elon Musk that said it's time to bring the Tesla Semi commercial truck to volume production. Whatever the fuck that means. Musk has learned just how Teflon he is with his antics resulting in little to no setbacks. His ability to pull levers from behind the curtain like the Wizard of Oz has left shorts battered and bruised. This memo comes on the back of an Elektrik article that suggested Tesla’s demand for the Model Y was “weak.”

  • The timing of large-scale production seems to be significantly ahead of schedule.

  • TSLA's most recent launch, the Model Y crossover utility vehicle, also came ahead of expectations. Model Y was first expected to be available in late 2020. However, production plans were accelerated and TSLA began producing the vehicle in January. Deliveries began in March, only a few months after production began.

  • The expedited production of Model Y shows that TSLA has the capability to move launch timelines forward by several months or more.

The secondary importance is that Elon is a megalomaniac. I say this halfway tongue-in-cheek as fearless leaders latest memo comes after Tesla’s latest “rival” Nikola (NKLA) surged this week. This is something to keep note of. This is not a coincidence.

NKLA, which “went public” through a merger with special acquisition company VectoIQ, began trading on the Nasdaq on June 4. Since then, the stock has more than doubled. Robinhooders and HODL’ers alike have rejoiced as it’s been one of the most popular stocks traded on Robin Hood.

NKLA is launching its own electric pickup truck called "Tre". While it's not expected to be available until next year, the company has said that orders are already strong.

Naturally, TSLA is looking to take some wind out of NKLA's sails with its news today. By launching their truck before NKLA's Tre semi, TSLA hopes to gain a first mover advantage in the electric semi market.

  • TSLA obviously has had plenty of success in the sedan and sports car arenas. However, the truck market is a different animal. Since they are often used on job sites, durability, towing power, and compatibility with job functions are key attributes. Whether a TSLA truck resonates as well with this customer base remains to be seen.

TECHS AND CLIFF NOTES:

After navigating through the pandemic relatively unscathed, TSLA is once again accelerating its vehicle launch plans. After launching the Model Y nearly a year ahead of schedule, TSLA now expects to begin volume production on its semi truck soon. Originally slated for availability in late 2021, it now appears that TSLA's truck will be ready for delivery well before then. The accelerated timeframe can allow TSLA to break into the market before its “rival” NKLA, which has been seen plenty of buzz lately after its stock began trading last week.

TSLA continues to be one of my favorite stocks to trade. Day in and day out it provides plenty of opportunity both up and down. The path of least resistance remains higher on this one until it violates its trends.

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