Electric vehicle maker Tesla (TSLA) is diversifying its products with a $450 bottle of mezcal, which arrives in time for the year-end holidays.
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The 750-milliliter bottle of alcohol is more expensive than a single share of TSLA stock, which is currently trading at $422. Tesla mezcal went back on sale December 12 and the company is promoting it for the holidays. However, the bottle of booze first went on sale in June of this year, but quickly sold out.
Made from the fermented sap of agave plants grown in Mexico, mezcal has risen in popularity in recent years. North American sales by volume are expected to rise from around 20 million liters this year to nearly 40 million liters by 2029, according to industry statistics.
Tesla Bot Toy
Mezcal is similar to tequila, but not exactly the same. While both alcohols are made from agave plants, tequila is made from a small subset of them called “Blue Weber” agave. Mezcal is often used in cocktails or sipped on its own at room temperature.
Demand for mezcal is largely being driven by wealthier consumers who enjoy hard liquor and spirits. However, mezcal is not the only gift item Tesla is rolling out for the year-end holidays. The company run by Elon Musk is also selling a $40 toy version of its Tesla Bot, which is modeled on the company’s Optimus humanoid robot.
TSLA stock is up 69% this year.
Is TSLA Stock a Buy?
Tesla stock currently has a consensus Hold rating among 34 Wall Street analysts. That rating is based on 12 Buy, 13 Hold, and nine Sell recommendations made in the last three months. The average TSLA price target of $267.79 implies 36.19% downside risk from current levels.
