This Stock is a Buy Right Now

As you’ve probably heard, the National Transportation Safety Board (NTSB) announced yesterday that Tesla, Inc. (TSLA) is at least partially to blame for a deadly autopilot crash last year.

And now, like clockwork, the media pundits are warning against buying the stock altogether – all because of this one breaking news story.

But here’s the thing…

This is yet another perfect example of why making changes to your portfolio based on the latest headlines is the fastest way to lose your money in the stock market.

And this time, the media heads didn’t just get it wrong – their bad “advice” could cost you the biggest profit opportunity of the year.

Here’s why…

Tesla Became – and Still is – “Too Big To Fail”
Back in January, we talked about how Tesla, Inc. has become “too big to fail” and why I predicted the stock would easily surpass its one-year high of $270 within months. Since then, it’s up over 35% – and it will only go higher from here.

Now, I’ll be the first to admit that I’m a bit biased toward Tesla…

In fact, I’m currently bunked up with my family in a hotel in the foothills of North Carolina, near Charlotte. And if it weren’t for Tesla, my wife, my two kids, and our fur babies (cats) wouldn’t have made it out of Sarasota, FL before Hurricane Irma hit. Of course, I would’ve rather taken the SUV to make a 20-hour trip on all back roads. But with gasoline shortages virtually everywhere and an abundance of Superchargers (we’re talking more than a 50% availability), this was the best possible scenario.

Score one for TSLA.

But this wasn’t just an olive branch extended to me… A fellow Floridian actually asked the company if they could help him with a temporary upgrade so he could make it out of his evacuation zone. And they even went so far as to extending a free upgrade to all drivers of the model S sedans until September 16. This allowed the 75-kWh battery to increase the range by another 30 to 40 miles – something that would usually cost you in the range of $3,000. So someone needs to buy that man a drink!

I’m not writing this to say that what TSLA did for owners of their models creates an immediate, short-term options trade. But it does go a long way in creating (and boosting) consumer’s and investor’s confidence in the brand, which will only help drive the stock higher – despite yesterday’s negative attention surrounding the NTSB’s findings.

On top of that, TSLA just opened two Supercharger stations in Chicago and Boston, with plans to do the same across the country to make it easier for people to charge their cars at work or at home. This initiative also encourages the growth of electric cars in an age where gas-powered cars might eventually become obsolete altogether. In fact, China and India have already planned to ban gas and diesel vehicles.

This is a positive on all fronts for TSLA – especially when you factor in the company’s commitment to help those who own their product and creating lower-cost options, like the Model 3.

Now I’m an options trader – not so much of a stock trader or investor. But when you look at the chart I pulled from my proprietary tools, you can see a clear, year-long uptrend in place right now, with a possible bullish breakout to come (reflected in the symmetrical triangle pattern below):

That’s why it’s absolutely crucial to look beyond the breaking news alerts when it comes to making any trading or investing decisions. The media heads simply want to rope you for their ratings – they’re not worried about your bottom dollar.

And when it comes to me and my family, this is one fortunate Tesla owner who was able to get out of our evacuation zone quickly and safely. I know we’ll have a lot to deal with when we get home… but the Tesla isn’t going to be one of them.

I hope you and your families are safe.

All my best,

Tom Gentile

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Source: Money Morning