When
#TESLA $TSLA could not stop going up, no one could speak ill of
@elonmusk and there were amazing reasons to not speak ill of him.
He was a busy man, however, but many thought "This won't stop him because Tesla is his baby."
The stock hit an all time high of $414 per share 2.5 years, or so, ago, and since then, it has done nothing but go down. A few rallies here and there...
But look at where we stand now. This is the article from
@Forbes .
"His biggest fans are turning on him." So they really weren't fans of HIM. They were fans of the stock price going up.
So what is my purpose of posting this? It is to show that people WILL change their tune if they don't see their stock go up but that should NOT be the case.
If you were a true investor, then this stock should have been a clear overvaluation at $414 but many didn't think that because valuation had not mattered for Tesla for a long long time.
We still hear people saying it's more than a car company. And I do NOT disagree. But it is still a car company and should be valued with 85% of revenue coming from cars but a larger potential growth in higher margin areas. But it is still a car company.
Also, Tesla, the company, is better today than it was when the stock was at $414. More revenue. More profit. But the stock is down.
Where is the bottom? No clue. Maybe we already hit it. Time will tell.