Why Tesla Motors (TSLA) Stock Remains Higher This Afternoon

NEW YORK (TheStreet) -- Shares of Tesla Motors Inc. (TSLA) remain higher today, up 0.31% to $204., after CEO Elon Musk said that it won't penalize other companies that want to make products based on its patented technology for long range electric cars, USA Today reports.

In a blog post, Musk said he wants to encourage the auto industry to make more electric cars like his Tesla's Model S.

He said that technology leadership has been shown historically not to be driven by patents, USA Today noted..

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TheStreet Ratings team rates TESLA MOTORS INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:

"We rate TESLA MOTORS INC (TSLA) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and poor profit margins."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

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