I just wasn't fast enough. I had an order in at $46.50, but missed it. The stock never got back to that price.
That's ok, the market is making a mistake today. The news over the past week has been really good. While the announcement didn't meet expectations, it was by no means a bad thing. The reaction is overdone here.
The leasing option is going to drive some amount of demand, though it isn't clear how much. This should alleviate some amount of concerns about demand in 2014. The introduction of new options (such as the center console and performance plus package) are going to be margin boosters in Q2. Dropping the 40kwh version of the car will be a big boost to margins. The purchase of 100 Model S for a fleet in Las Vegas has been under-reported. The fact that there will be (presumably good) announcements every week or two from here out means continued upward pressure on the stock. Elon mentioned that they've made a lot more progress on Superchargers than we've noticed.
I could go on. The fact is, all this hype has masked a lot of things that should be reshaping your view of what Tesla is worth going forward. Here's the big one though: The number of deliveries reported far exceeds the numbers used in analyst's models. Morgan Stanley for instance was using something like 3k cars for this quarter. None were counting on profitability until at least Q4. Many of their price targets have already been taken out. These analysts have no choice but to revise their estimates. They probably would have done it already, but needed to wait for yesterday's announcement to be sure they had all the latest info.
So, I suspect we will see a lot of analysts updating their price targets based on the new volume, margins, and profitability. Some of the changes might be quite dramatic. Personally, I'd like to see Morgan Stanley return to its $250 target. =P