There is no denying that Elon Musk is one of the world’s more innovative and inventive men…
He’s created the most recognizable electric car on the planet with Tesla (TSLA) and launched his SpaceX rocket project (pun definitely intended) – two things some people thought they’d NEVER see outside of science fiction and NASA.
His company is worth BILLIONS – as investors seem to buying more into Musk than his actual innovations…
But is Tesla – and more importantly, Musk himself – losing its luster? Is this stock still a safe bet?
You’ll be surprised…
First of all, no matter what, Elon Musk will always go down in the history books as one of the most talented and innovative minds the world has ever seen.
He may not be on the same level as Einstein or Nikola Tesla (the man for which his cars are named after)…
But there can be no doubt that he is definitely one of the smartest men to rise to prominence in a very long time.
He was one of the brains behind the online cash transfer system, PayPal, and it was his time there that garnered him the money and freedom to create his innovations – that include something called “NOT A Flame Thrower” – which seems to be EXACTLY what he says it isn’t.
He’s also one of the first people to successfully launch and land a rocket – something that will make resupply in space – which will be even more valuable in the future – a much easier and cost effective task.
This is on TOP of the fact that he’s created one of the most successful car companies, let alone electric car companies, to come around in decades.
He’s been expanding the production of his cars…
Pushing his factories to their limits to fulfill orders from all over the world.
He has burgeoning markets in most of the developed countries of the world…
And it’s part of the reason why so many people look at Musk as such a trailblazer – as he’s both created and supplied a market that HE almost singlehandedly created.
His company’s stock was on the rise – hovering at around $900 just a few weeks ago – as it seems that even with some missteps…
Elon Musk could do no wrong.
And then, just when things looked like they could be going any better for Musk and his company – the coronavirus – hit…
And for somebody who had just recently opened a factory in China – this isn’t a good thing.
The stock has taken a hit…
As of the writing of this article – it’s hovering somewhere around $745 – during the dip it traded as low as $600 – so it doesn’t take a mathematician to see that the company has been affected heavily by this current and fearful market.
In fact… that big of a hit is almost TOO big for it to be the scare that has forced share prices to fall so drastically in such a short amount of time…
There had to be something else happening to force this plummet.
So…
I did a little research, and found that there may be a much more TROUBLING reason shares of Tesla have dropped almost 30%.
It seems that the price fall may have more to do with the fact that registrations of electric vehicles have dropped almost 50% in the very country he just opened a factory in, China.
Get this…
In December of 2019 – there were 6,613 Tesla cars registered in the country…
Just a month later, there were only 3,563 Teslas registered in China – that a dip of 46% – which is HUGE!
Another piece of information that may spell trouble to Tesla?
There seems to be an overall slump in the entire electric car market as deliveries to dealers dropped 54% in January as well.
And keep in mind…
The drop in registrations came BEFORE the coronavirus outbreak impacted the markets…
Which means that we may not have seen the bottom for Tesla shares – as the coronavirus will continue to disrupt both the global markets AND the Chinese auto industry.
All that said…
It’s important to keep in mind that even with the price dip – shares are STILL up about 60%
Even with the recent dip in share price, Tesla is still up about 60% in 2020 alone.
So…
Can Tesla shares make a comeback?
Absolutely – with Musk at the helm – this company still has the potential to be even bigger than you may think.
Don’t count him out yet…
He may have a trick or two up his sleeve.
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Until next time…
“I don’t care that they stole my idea. I care that they don’t have any of their own” ― Nikola Tesla