I called the top months ago, at near the all time top. It's ridiculously overpriced, destined to fall big, I'd never buy it.. the stock or stupid evs. Not a trade recommendation Proof https://www.elitetrader.com/et/threads/tsla-is-toast-epic-selloff.354650/
Per my prior statement, today Tesla is unbeatable. I have no doubts that traditional car manufacturers will at some point within the next 10 years build cars as competitive as Tesla. I expect strong competition from Europe and encourage it because it's healthy. But I also believe that Tesla will become a name as ubiquitous as Volkswagen, Renault, Volvo, etc. and hold its fair share of the automobile market in addition to its other energy ventures.
If Tesla manages to sustain the lead I would be only glad, as I do like the company, but as it stands, its lead is rather marginal at present and as you said, others will catch up quickly, so this is my main issue with TSLA, I believe the expectations are unrealistic considering the strength of competitor brands. And not everyone will fancy a Tesla, just because it leads as far as performance and range at present, this won't be the selling factor for all groups of people.
I don't think we disagree much. There's such emotional reactions to Tesla’s success that is simply ridiculous. For my part I support a rapid transition from ICE to EV and thus applaud Europe for their decisiveness. In the same way, I support Musk and Tesla for pushing the ball up that steep hill of naysayers and proving month after month, year after year, the viability of Musk's ambitious goals. I'm not a groupie nor even a fan of Elon Musk who I often find irritating. But I'm also willing to appreciate and recognize his incredible achievements to date. Finally, on a personal level, I mostly care about Tesla's stock price. There are powerful interests wishing its failure, in oil and gas, auto manufacturing, unions and politicians who depend on their financial support... it's amazing it's done so well over the last few years. Tesla price shows that stocks can have aspirational value, to the dismay of many in the financial sector not known for idealism. I say, if it helps take Tesla to $1k in a couple of years, I'm all in.
I'm no expert, but the push for autonomous driving presses on. Right? Level 4, level 5, cars, trucks, etc. There's one thing TSLA owns, and I've written about it here for years, but it never seems to get any credit.... and I don't mean from ET yoyo's... I mean in general. What is it? It's the data TSLA owns. Real world data. Sometimes I think if they never built another car again they would be just fine. Perhaps even better off. Their AI and everything that feeds it... is gold. One of these days I'll be proven right. It applies to more than cars. That's why the stock is where it is. A select few realize this. The select few that will build our future. Or should I say, are building our future. -vz
Absolutely ! Their FSD app is ahead of the competition and much cheaper to install without radar and lidar, but the AI behind it is the real jewel. Add to that the energy management app used in industrial settings and Tesla's energy distribution licenses in the UK, parts of Germany, Texas and growing... now you have an entirely different battery business under the Tesla brand. Essentially, anyone who continues to call Tesla a car company to be measured against other car companies has failed to do their research or is intellectually challenged.
This will be the last one I post until Tsla breaks 800. It's on target. The immediate question once it breaks 800 is, when to sell? If it breaks 800 early (next week), it could peak at 850 before 10/21 Q3 numbers. I expect a drop not long after to test support, around 750. If, on the other hand, it doesn't break 800 early (flat or down until 10/20), then expect 800 resistance and support tested at 700. Next goal is 900 by year end, which is a flat year for investors.
Less than 2 years ago VW group was nowhere in EV's. In less than 2 years they catched up Tesla and sell almost the some amount of EV's. Mercedes, BMW and soon the Chinese (30 new models in the next 12 months will appear) EV's will take bigger and bigger pieces of the EV market. Tesla will not be able to continue to grow like they did, because what the others sell, Tesla cannot sell anymore. On top of that the popularity of Tesla in EU is collapsing in favor for EU carmaker EV's. And the EU market is at this moment much bigger than the US market. The big increase of sales in EU are cars sold by EU carmakers. The EU even passed China in sales.