Tesla Motors Inc. (NASDAQ:TSLA) recently introduced new apparel designs for the on-going holiday shopping season. The company launched dual motor and insane mode shirts. TSLA shares traded in green and jumped 1.82% during Friday’s trading session. However, the company is performing rather poorly since the beginning of the year, with the stock declining about 18% year-to-date through Friday.
The company updated its apparel and accessories on Tesla Gear website after some time. However, the recent launches were just in time for the holiday shopping season of this year. The new design features its Dual Motor, Insane Model, and Model X. The designs of these shirts can be viewed on the company’s official apparel webpage. Updated clothing can provide the California-based company with another sustainable revenue stream alongside Electric Vehicles line.
Tesla is about to introduce its modern designs on fine hand-picked cotton from Peru for its upcoming apparels. The $32.25 billion company stated, “This shirt is made from long grain, GMO-free Peruvian cotton. Peru is the only country in the world where cotton is picked by hand on a large scale.” The company further stated that hand picking cotton is an old tradition followed by the company for past 4500 years. It avoids damage to the fiber during the picking process alongside eliminating the need to use chemicals to open the cotton plants before harvesting. Tesla also mentioned, “This environmentally friendly process results in cotton that is soft, strong, and lustrous – and the tee will get even softer with every wash.”Moreover, Street analysts have provided Tesla with an average price target with $225.13, implying approximately 14.48% upside potential over the last close. Of the total 19 analysts covering the stock at Wall Street, three rated it as Buy, while one and nine each recommended Overweight and Hold, respectively. Moreover, two advocated Underweight whereas four analysts advised selling the stock.
[Source:-Mart ok news]