Sarhan Is A Fan Of Tesla As Long As It Stays Above This Level

Adam Sarhan was recently a guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick.

Sarhan Capital Founder and CEO Adam Sarhan discussed Tesla Motors Inc TSLA on the show.

“I’m a Tesla fan in the near term as long as the stock stays above the $200 area,” Sarhan said.

Sarhan noted that the stock had recently run up from the $181 level but it still had “more work to do.”

Over the long term, however, Sarhan thought that if CEO Elon Musk was able to execute on his vision, then Musk would be “on to something really big” especially with his additional interests in solar, space and electric vehicles.

Shares of Tesla recently traded at $229.22, down 0.53 percent.

Listen to the show here: