Shares of electric-vehicle maker Tesla (NASDAQ:TSLA) have remained steady today despite a flurry of recent news surrounding the company. For instance, CEO Elon Musk announced that he's willing to share some of Tesla's patents in a sort of open-source arrangement to spur other manufacturers' EV production. In addition, the New Jersey legislature has advanced a bill that would allow Tesla to operate four stores and a service center in the state, while California is relaxing regulatory and environmental standards to encourage Tesla to build its Gigafactory there.
But what about the competition? BMW launched the i8 plug-in hybrid yesterday in Germany. While not an all-electric luxury sedan and a little pricier than Tesla's offerings, the i8 is a sporty option for wealthy individuals in the "green car" space. According to Motley Fool analyst Blake Bos, he doesn't think BMW's car is directly comparable to the Model S, though he does believe that investors should keep an eye on this BMW line.
So, is today the day for investors to dive into Tesla? On today's "Stock of the Day," Blake says no. While the news is interesting, none of it changes Tesla's fundamentals. He thinks investors should really pay attention to updates about the Gigafactory, for that is key to the company meeting its goals and Wall Street's expectations in a timely fashion.
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Mark Reeth has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Tesla Motors. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.