“Fast Money” traders are in on Tesla with an important event ahead. Even though Tesla shares rallied on CEO Elon Musk’s plan to unveil his “Master Plan 3” at Investor Day on March 1, trader Julie Beal warned that gains would likely be slim. “This business really isn’t as healthy as it could be,” portfolio manager Kayne Anderson Rudnick told CNBC’s “Fast Money” on Wednesday. “It’s going to face a lot of competition from well-established players.” Tesla shares initially rallied on last Wednesday’s announcement. ,[Musk] is great at inciting a frenzy,” Biel said. “He has Twitter and the Tesla brothers behind him, and that’s a worthwhile force for the stock.” Biel also questioned the credibility of the product. Did. Its windows roll down randomly. I’ll come back to the garage and there’s a window down. Like it’s not the quality of a product,” he said. “Cars are hard to make. So, I’m concerned about the long-term fundamentals of this business and their ability to compete. Officially added Tesla to his list for the first time. Nevertheless, Steve Grasso appears to be stepping on the accelerator. ,[Musk] Grasso Global’s CEO said, “One can pull a rabbit out of the hat whenever he wants, and it’s another rabbit and another hat.” Grasso went long on Tesla last Wednesday, and he plans to stick with the stock through Investor Day. “The way it stands now, and it could always change from a trader, but I’ll be there,” he said. Their bullish case also reflects a favorable technical picture. TSLA 1Y Mountain Tesla, 1-Year “If You Can Steady” Up from $200 [a share]Technical difference up to $230 real [to] $240 for me,” Grasso noted. By Friday, Tesla gave up its gains. But the stock still closed up nearly 4% for the week, and is up 60% so far this year.
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