Wall Street Insiders Name Tesla Stock of the Year – CleanTechnica

January 4th, 2021 by Iqtidar Ali

Its been a tumultuous year on Wall Street. Many blue chip companies experienced great volatility in light of this years pandemic. Some have thrived, others have dived. So, who has come out on top? A number of Wall Street insiders have crowned Tesla [TSLA] 2020s stock of the year.

Yahoo Finance, which haslong been bearish on Tesla,has now pivoted explainingwhy Tesla is the hottest stock of 2020. Yahoo Finance brought in Ross Gerber, CEO of Gerber Kawasaki, to provide his point of view on the electric automaker and its bright future ahead.

According to Gerber, Theres so many semi trucks and pickup trucks in America. It is a huge market for Tesla. Tesla Texas is going to be the crown jewel of the Tesla Terafactories in making cells, battery packs, all the way into trucks that will be the most incredible, powerful electric trucks ever built. This is an exciting time for Tesla because that market is enormous.

The UKsIndependentagrees that Elon Musk has taken Tesla to dizzying heights in 2020. But, according to the Independent, Whatever steps forward Mr Musk and his companies make in 2021, it will be difficult for their founder to have a more eventful year than 2020.

Discussing Elon Musk, the Independent cites analysis from CNBCs Jim Cramer, who says, This man is selling technology, and hes talking about fully assisted [Autopilot] and then hes talking about driverless. Hes thinking so much bigger. Thats why this younger generation is willing to give him money. They are saying, Look. Hes Steve Jobs. Who knows what he comes up with next? I want a share of it.

Cramer confessed, I am a big believer in the car, the stock, and the man behind it. The CNBC star also owns a popular media outlet, The Street. And it turns out Tesla is now The Streets Stock of the Year.

The host of CNBCs Mad Money says, I bet Tesla has more upside. But its not just Cramer who voted Tesla as Stock of the Year at The Street. The Wall Street media outletpolled a group of expert writers and editors atThe Street, Real Money, Action Alerts Plus, Stocks Under $10, and Trifecta Stocks.

An impressive12 of 16 panelists voted Tesla as the Stock of the Year. Why? According to The Street, The volatile stock has captured the attention of the world with a meteoric 731% rise year-to-date compared to a 15% increase for the S&P 500 index.The company even had its stock highlighted in Googles globalYear in Search 2020report alongside search terms like coronavirus and election results.

According to The Street, The best comparison for Tesla in 2020 might be to a high school LeBron James. Tesla is dunking on everyone. Since it first crossed $1 billion in revenue in 2013, Tesla has grown revenue at a staggering 52% compound annual growth rate. For context, at that stage in Amazons growth (20002009), its compound annual growth rate was 32%. That means Tesla grew as much in six years as Amazon did in ten.

Article viaEVANNEX. An earlier version of this article was originally published onTesla Oracle.

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Tags: CNBC's Jim Cramer, Elon Musk, stock, Tesla, Tesla Model 3, Tesla Model S, Tesla Model X, Wall Street

Iqtidar Ali Iqtidar Ali writes for X Auto about Tesla and electric vehicles. A true car enthusiast since his childhood, he covers his stories with an utmost passion, which is now guided by the mission towards sustainability.With over 1 decade of website development experience, hes also our IT resource at hand. He also writes about tech stuff atUXTechPlus.comoccasionally.Iqtidar can easily be reached on Twitter @IqtidarAlii(DM open for tips, feedback or a friendly message) or via email: iqtidar@xautoworld.com.