May 112013
 

Hope everyone is having a great weekend. Let’s look at some current business and economic news.

Electric Power – Consumer Reports recently reviewed the 2013 Tesla Model S, and claimed it was the best car they’ve ever reviewed. Not the best electric car, but the best car, period – Giving the vehicle 99 out of 100 points. Around the same time Tesla announced it was profitable for the first time in its history. If you are a fan of electric cars then $80,000 would get you the award winning sedan in Canada, $70,000 in the US. I hear it comes delivered straight to your home.

13_05_tesla

$TSLA shareholders must be ecstatic as the publicly traded company’s stock price jumped up 25% in one day after the news on Thursday. Some people believed the stock would level off after that or even pull back a little, but on Friday its stocks gained another 10%. It is currently trading at $76.76/share, which puts the company at $8.8 billion market cap. Is Tesla Motors a good investment now?  I don’t know. It’s hard for me to value a company if it doesn’t have a long record of profitability. Plus I don’t understand the auto business very well. So I won’t be buying into the rally, but will keep an eye on this company with interest 🙂 Do you think Tesla will be a good long term investment?

Right on Target – US retailer Target has finally started to open up stores in Western Canada. I haven’t been to any yet but I’ve heard the one in Coquitlam Center which has just opened its doors will be very busy. I plan to visit a local Target soon and check it out for myself. It’s important to me that Target succeeds in Canada because one of the reasons I invested in them earlier this year is because I believe Canadian shoppers will give $TGT a lot more business than analysts are expecting 😉 Hurray for consumerism! Go Target 😀

Fund Update – I sold about $5K of stocks in May so far. I also received that nice check last week from my tenant. I now have about $9K saved up for my $25K farmland fund. Just need to come up with $16K more. I think it’s doable 😀

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Blog roundup – Personal finance and other interesting articles from around the web

Makingsenseofcents talks about how she makes money by writing online
Marissa from Thirtysixmonths has a way to make budgets easier to stick to
Seapotato shares some pictures she took at a seafood event. She got to meet David Suzuki :0) #jealous
Reach Financial Independence explains why she upgraded to a paid bank account
Canadianbudgetbinder shares his family net worth. They’re really good at paying down their debt :0) Awesome job

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Random Useless Fact: A group of pugs is called a grumble

 

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Emily @ evolvingPF
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Emily @ evolvingPF

Thanks for including my post!

Canadianbudgetbinder
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We’ve been to Target here in Ontario and we haven’t been back. It was nothing to write home about, just another shop. The prices on day 1 were expensive to us since we are pretty good with product prices BUT there were lots of products we had never seen before. The flyers have come in weekly but again, nothing has enticed us to go back yet. Thanks for the mention and happy to hear you’re finding the money bit by bit for your farmland, that’s awesome. I can sense your happiness through your words. Cheers! Have a great weekend. Mr.CBB

myownadvisor (@myownadvisor)
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Nice ride 🙂

Brian
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I have started seeing all the Target ads around. Will it actually be all that great though? US stores coming to Canada are always over hyped. Thanks for including us!

John S @ Frugal Rules
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Thanks so much for the mention, I really appreciate it. Hope you have a great rest of the weekend.

Adam
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Adam

TSLA investor here. I picked up some shares after following Tesla for a long time (well before IPO) in fall of 2012. I eventually made my way to an owner’s message board, and once the US deliveries of the Model S began, the good news came rolling in. The initial owner reviews were so positive that I even ventured down to their Bellevue store for a test drive over christmas. After what I can only classify as an epic first impression, I was totally sold on Tesla’s potential to disrupt the automotive world as we know it. I added to my position, and despite some profit taking along the way, last week certainly made me ecstatic. The timing of the CR review and Elon’s tweets have likely played a large role in compounded good news for the brand, which has got to be adding a lot of new long investors these days. Tough to say what will happen in the short term, but I’m holding TSLA for a very long time regardless and, may even add some more into my RRSP should any dips occur. I’ve also been making some big gains off Elon’s other project, SCTY. That one is… Read more »

Vicky
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Vicky

9k already? That’s pretty good! 😉

A couple Target locations opened up here but I have yet to visit one. My mom told me its basically a more expensive Zellers so she was disappointed. Will be interesting to see how they fare up here!

Thanks for including me! 🙂

Debt RoundUp
Guest

Thank you very much for the mention. I really appreciate it. I heard about the Tesla consumer report data and then thought about when they first reviewed Tesla and they car wouldn’t start. It appears that they have turned it around. I would be eager to hear about your first trip to Target in Canada to see what they do differently there than in the states.

Paddy
Guest

That’s a lovely looking car there and wow, 99 out of a 100 sounds like a pretty awesome review!! Wonder what it lost the 1 point for.

As for the 9K you’ve got so far – well done!! 🙂 Absolutely no doubt you’ll get the next 16.