I’m fairly assured that final Thursday’s (24 October) near-22% leap in Tesla (NASDAQ: TSLA) pushed at the least just a few UK holders into ISA millionaire standing, at the least on paper.

Crushingly, I wasn’t one in every of them. However it made me ponder whether shopping for a slice of the electrical automobile maker now would elevate my possibilities of making it into that choose group sooner or later.

Again with a blast!

Having endured a nasty fall in earnings in Q2, Tesla bounced again to kind in Q3. Earnings per share hit 72 cents, smashing expectations. Car deliveries additionally rose 4% to nearly 463,000, eclipsing the earlier three-month interval.

It wasn’t an entire slam dunk from the Texas-based titan. Income hit $25.18bn — a bit decrease than analysts have been anticipating.

However let’s not break up hairs. As updates go, I doubt many buyers will likely be banging on publicity-shy Elon Musk’s door and demanding that he pulls his socks up.

Certainly, the market lapped up this information and the share price did its factor.

Extra to come back?

As excessive as that day by day transfer was, it’s necessary to place it in perspective.

Tesla inventory remains to be solely up round 5% in 2024 as I sort. It’s additionally far under the document excessive — simply over $400 — seen nearly three years in the past. Whether or not it may shortly add one other 60% or so from right here to problem that final quantity is open to debate. But when the corporate can beat its 2023 supply whole of 1.8m vehicles and efficiently carry new automobiles to market (e.g., the Mannequin Y Juniper) in 2025, I feel it’s doable.

Bother forward

The sticking level for me is the potential volatility alongside the best way. It’s simple to overlook that the exact same inventory that tumbled earlier in October following the poorly obtained launch of the agency’s robotaxi.

There are additionally a bunch of different issues to ponder, together with the US election.

We’re a politically impartial lot at Idiot UK. Nonetheless, this doesn’t imply I can’t speculate about whether or not Musk’s endorsement of Donald Trump might impression how motivated Democratic voters wish to purchase his vehicles sooner or later. On the flip facet, it’s simple to see why the latter’s plan to boost tariffs on Chinese language EVs coming into the US would swimsuit Tesla.

Elsewhere, the S&P 500 is now up over 20% since January and nearly 40% in 12 months. That makes some sense contemplating that inflation has lastly calmed and fee cuts have begun. However even essentially the most optimistic investor should be questioning if it must pause for breath.

Right here’s what I’m doing

I’m not going to disclaim that Tesla inventory would possibly proceed creating ISA millionaires because it has spanked business rivals for six to date.

However I additionally reckon there’s a good likelihood of me hitting that seven-figure goal by investing as a lot as doable in a spread of high quality shares and funds on a constant foundation and holding for the long run.

As methods go, this isn’t as horny or pulse-quickening. I don’t suppose investing ought to be.

For now, I’m conserving my Tesla publicity to some funds that swimsuit my danger profile and permit me to sleep at evening.

I’d nonetheless quite watch the share price shenanigans with a bag of popcorn in my arms.