Elon Musk has done everything he could to boost Tesla’s stock as well as propel it into orbit. He not only behaved badly when it came to Twitter – stock slid, but also revealed the go-private scheme and that too on Twitter, calling for $420 per share price.
In 2018, the shares of Tesla which are mostly volatile entered an entirely new realm of lurching unpredictability. But by the end of the year, it was clear that Tesla was the best investment of 2018 when it comes to the auto sector.
At the moment, the shares of Tesla are priced at $370, up by 16% year-to-date, though it may fluctuate in the coming weeks. Ford, General Motors, Ferrari and Fiat Chrysler Automobiles are in the red and Ford is down by 30%. Ferrari’s stocks have slipped by just 1%.
Since the time Tesla has staged an IPO in 2010, its shares have gone up 1,300% and the investors have been rewarded copiously in a very short time. It is expected that a profitable third quarter will probably be followed by another profitable quarter.
If Tesla can threaten $400 per share before this year’s end, then Tesla could certainly make certain market-moving announcements regarding the product front, beginning by unveiling the Model 3 crossover in the first or second quarter itself.
Musk and Tesla have been in a hot mess during the year, but it has been able to build and sell thousands more vehicles than the previous year by the year’s end. The company has been able to earn around $7 billion in its third quarter. Keeping that up and controlling its cost, Tesla has reversed from almost a decade of losses to a future of gains.
What else? The people are in love with the product and they are even willing to put up with the growing pains of Tesla as a manufacturing enterprise.
Source: Business Insider and One News Page
