Everyone agrees that Tesla stock is the craziest stock to invest in, as its CEO Musk is also the most extravagant entrepreneur of the United States after probably Steve Jobs. As Aristotle said it best: “No great mind has ever existed without a touch of madness.” Jobs and Musk are people that make America the best place. It is not a coincidence that Jobs and Musk are being compared to each other lately, both of these guys were little out of this world, both were visionaries and both added value to companies they run. Please keep in mind that I am not a financial analyst and this piece is not a recommendation to buy or to sell a certain stock.
Although Musk was not a founder of Tesla, his vision made initial bust for Tesla to take off and to come to places where company is today. Obviously, current hype with Tesla stock is coming from S&P500 possibilities. If Tesla will report profit on 22nd of June with their 2nd quarter, then it is a matter of time for them to join to S&P500 index. And from there it will turn to one of companies that will get into a position where sophisticated funds will be investing heavily in its stocks.
Although there were some under performances with new Model Y https://www.cnbc.com/2020/07/13/tesla-cuts-model-y-price-and-cancels-standard-range-version.html cutting prices, recalls that had it say on prices of stock. Other models like S, X and model 3 are still performing very well. So good that Tesla became the most sold car in the United States. It is easy to predict that it will also soon dominate the rest of the planet. Not because it is is economically efficient to have Tesla, in fact it is not. Having a hybrid car still comes cheaper in the short term than having an EV. However, there is another factor — factor of coolness. Yes, to have Tesla is just cool. This channel with more than 1 mln follower exactly explains why it is cool to have Tesla, it is cool.
This is also a reason why Nikola, a company that would never ever make it to where it made it here in the US, would make it if it would be somewhere else in the world. Nikola shares had boost last week. A company that is based only on a sole idea somehow made it to be a publicly traded company through mergers. And the weirdest part is that it got a stock price boost. Anyways, it looks like it is getting back to lower prices, however the fact that a startup at the early stage got a stock price of 400 per share is wild. This is how far you can get on hype.
Anyways, I am a Tesla stockholder myself. And I assume that Tesla stock will still be getting to 2000ish this week after they will declare profits for the 2nd quarter.
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