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Billed as the Apple of auto- makers， Tesla Motors Inc. has always been a darling of the automotive media， constantly occupying the headlines. Back in 2003 when the EV automaker was established by Elon Musk and J.B. Straubel in California， no body knew it would become an auto industry disruptor.
Since in 2010 when Tesla made a debut on the Nasdaq stock exchange， shares of the EV automaker has already gone up tenfold， rising to over 200 dollars from the IPO price of 17 dollars. Given Tesla’s great performance in the stock market during the short span of four years， many call it as a Wall Street Cinderella story.
The Fading Luster of Tesla
However， in the recent months， some luster of Tesla seemed to have been rubbed off as it experienced a broad-based sell-off. Last year， Daimler and Toyota both unloaded Tesla shares. Even Tesla’s CEO Musk admitted the prospect of Tesla was not so bright.
At the 2015 Automotive News World Congress held in Detroit on Jan. 13， Musk said that the EV automaker would not make a profit until 2020， in addition to being frustrated by unexpected weak sales in China during the fourth quarter of last year， the world’s largest auto consumption market.
Predictably， shares of Tesla dived after his remarks at the congress， plummeting by13.75 dollars， or 7% to 190.22 dollars from 204.25 dollars in less than an hour. In contrast， over the course of last year， Tesla shares soared nearly 48%， with a record high of 279.20 dollars created on Sept. 7.
According to a shareholders’ proxy statement， Musk holds a 27% stake， or 350 million shares in Tesla， which means that his individual asset value vaporized 481 million dollars， or 3 billion yuan， in an hour after his remarks.
Different from many other executives， Musk is an overly honest man who never hides his downbeat thoughts or expectations over his company， even though it would be flowed by a slump in Tesla shares.
A similar situation happened last year. In September 2014， after announcing that Nevada would be home to the 5-billion-dollar lithium-ion battery plant dubbed Gigafactory， Musk publicly admitted that Tesla shares may be overvalued. Expectably， a drop in Tesla shares ensued after his overly candid remarks.
Many stock analysts still insist the current high price of Tesla’s shares has overdrawn its future performance.
Tesla’s Wild Card
Since in 2010 when Tesla made a debut on the Nasdaq stock exchange， shares of the EV automaker has already gone up tenfold， rising to over 200 dollars from the IPO price of 17 dollars. Given Tesla’s great performance in the stock market during the short span of four years， many call it as a Wall Street Cinderella story.
The Fading Luster of Tesla
However， in the recent months， some luster of Tesla seemed to have been rubbed off as it experienced a broad-based sell-off. Last year， Daimler and Toyota both unloaded Tesla shares. Even Tesla’s CEO Musk admitted the prospect of Tesla was not so bright.
At the 2015 Automotive News World Congress held in Detroit on Jan. 13， Musk said that the EV automaker would not make a profit until 2020， in addition to being frustrated by unexpected weak sales in China during the fourth quarter of last year， the world’s largest auto consumption market.
Predictably， shares of Tesla dived after his remarks at the congress， plummeting by13.75 dollars， or 7% to 190.22 dollars from 204.25 dollars in less than an hour. In contrast， over the course of last year， Tesla shares soared nearly 48%， with a record high of 279.20 dollars created on Sept. 7.
According to a shareholders’ proxy statement， Musk holds a 27% stake， or 350 million shares in Tesla， which means that his individual asset value vaporized 481 million dollars， or 3 billion yuan， in an hour after his remarks.
Different from many other executives， Musk is an overly honest man who never hides his downbeat thoughts or expectations over his company， even though it would be flowed by a slump in Tesla shares.
A similar situation happened last year. In September 2014， after announcing that Nevada would be home to the 5-billion-dollar lithium-ion battery plant dubbed Gigafactory， Musk publicly admitted that Tesla shares may be overvalued. Expectably， a drop in Tesla shares ensued after his overly candid remarks.
Many stock analysts still insist the current high price of Tesla’s shares has overdrawn its future performance.
Tesla’s Wild Card