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Next up for the Redeem Team Stock Draft we have the teams' selection for Carmelo Anthony!

Jacques Potts, Alex Moreno and Kareem Winters Select Tesla

How could a 2003 Syracuse freshmen with a signature jump shot and his orange headband compare to the great Tesla? The same Tesla whose market value has swelled to over $400 Billion since the stock’s $20 debut back in 2010. Yea that Tesla, and of course that bad freshmen who we now consider one of the greatest players to ever grace the hardwood, is Carmelo Anthony.

If Carmelo were a stock, some of his company highlights would have to include, having been named an NBA All-Star ten times (one of only 40 NBA players in History) and an All-NBA Team member six times. Anthony is also the only player in Olympics History to play for the US national team a record four times; winning a bronze medal with the 2004 squad and gold medals on the 2008, 2012, and 2016 Olympic teams.

We would liken Carmelo’s NBA accomplishments to Tesla turning a profit for the fourth quarter in a row — a first for the company. Tesla turned a profit of $104 million in the second quarter of 2020 despite shutting down its electric vehicle factory.

We also think back to so many analysts’ negative outlooks on Tesla throughout the years. We hear about the broken glass stories from 2019, the lengthy quarters of questioning profitability, delivery issues, manufacturing problems, etc. However, even longtime Tesla bear Bank of America analyst John Murphy recently nearly doubled his price target for TSLA from $800 to $1,750 per share.

Melo also recently faced his own up-hill battle when some thought he was finished and washed up. Having taken a year hiatus, and a fat payday ($27.9 million to be exact), to now being in the playoffs competing for a championship with a new team (Portland Trail Blazers); Melo’s short lived fall, and rerise sounds all too familiar and proves why it’s tough to count out greatness but even harder to try to contain it.

In conclusion, these reasons sum up why Melo must be synonymous with Tesla. With both the stock and the Gold medalist these days, you just do not know what you will get on a given day but you for sure know what they are both capable of. Seriously, just ask Tesla shareholders who have rode the stock up roughly 60% since the announcement of the 5:1 stock split! In the words of the NBA great, STAY MELO my friends. 

Nikhil Gunderia & Kevin Perkins Select Apple

Carmelo Anthony is one of the greatest pure scorers that the NBA has seen play. In the span of 16 years, he has positioned himself as 15th on the all-time scoring list, a list containing some of the greatest players to ever play the game. Throughout his illustrious career, Anthony is most famous for his tenure as the New York Knicks’ franchise player from 2011-2017 where he rose rapidly to the team’s top 10 point scorers of all-time.

Given that Carmelo Anthony positioned himself as a dominant shooter and one of the top 20 all-time greatest pure scorers in the NBA, we thought it best to equate him to Apple. Although Apple doesn’t have the highest stock price among NYSE’s major stocks (though a large part of that may very well be due to several 2-for-1 splits and even a 7-for-1 split, not to mention another 4-for-1 split that is about to take effect), they just recently surpassed a $2 trillion market cap mark and have been a consistent buy over the course of the past 20 years.

Moreover, some view Carmelo Anthony as one of the most overrated players in this generation of basketball which is perhaps comparable to Apple being considered one of the most over owned stocks by investors.

Emmanuella Nwokenkwo, Javier Frausto and Jeeho Yun Select Tesla

You do not want to be on the other side of the court versus Melo on his best day. You don’t want to be on the outside looking in when all your friends are doubling their portfolios because Tesla went on another 5% run in a single trading session. Moreover, just as you don’t want to just as you don’t want to be betting against Anthony when he’s at his best, there may be nothing more painful than being short a position in Tesla when it goes on a run.

Olympic team Melo is a different beast - kind of like post-split announcement Tesla. If he gets the first couple of shots to fall in, call it a day. There’s no way of stopping him, he’s in a whole game of his own. The only person that could stop Melo from scoring 10 more 3’s on you is himself! (and the clock too since there’s only so much time in a game). This same thing can be said about Tesla, it’s unstoppable once it gets going, though there had certainly been times where the only thing that could get in its way was a tweet from its visionary co-founder and CEO Elon Musk.

We’ve all seen the rise of Tesla before our very eyes. In a matter of months, weeks, even days, Tesla can flip the switch and just make you a happy person. This stock has seen tremendous growth, it’s on the forefront of electric vehicle companies and to an extent, technology as a whole. As I’m writing this article, the stock has risen 59% since the announcement of the 5:1 stock split. Now the only thing that can stop Tesla from reaching a $500B market cap is itself. 

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Disclosure: At the time of publication, we are long Apple. We do not hold positions in Tesla. We wrote this article ourselves, and it expresses our own opinions. We are not receiving compensation for creating this article (other than from TheStreet) and have no business relationship with any company whose stock is mentioned in this article.