Why Tesla Might Be Like An Early Amazon
Fari Hamzei was recently a guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick.
Hamzei Analytics Founder Fari Hamzei discussed Tesla Motors Inc (NASDAQ: TSLA) on the show.
Hamzei compared Tesla’s growth and development to Amazon.com, Inc. (NASDAQ: AMZN).
“My thinking is that Tesla could be another early Amazon," Hamzei said, “Remember how whatever money Amazon made, they spent?"
Hamzei noted how Tesla has big plans and that the market may need to accept its short-term subpar profits with the understanding that it has much growth potential.
Hamzei said he was leaning to the sell side on the stock and that it would take a few quarters to understand the costs of Tesla’s new battery initiative.
Tesla reports Q1 results Wednesday and heading into earnings it traded at $229.10, down 1.6 percent.
Listen to the show here:
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