Tesla Just Shot Its Stock In the Foot With Its New Bullet-Proof Truck
Tesla revealed its much-anticipated Cybertruck last night. To say the reveal was a fiasco would be an understatement. However, that will end up being just another odd footnote in the epic saga of Elon Musk and his Tesla journey. Like the pedophile-accusation incident. Or the on-camera weed smoking. Or the time Elon explained to an interviewer that Tesla had been just weeks from "death" after having told investors the opposite. The pain of the reveal fail will fade. What may be longer-lasting is the impact on Tesla's stock value.
Tesla recently gave its stock value a big shot in the arm following a profitable quarterly report. Following that report, Tesla's stock rose from $253 to $301. The stock continued to gain in value as investors looked forward to the new Model Y going on sale and the reveal of the Tesla all-electric Cybertruck.
Related Story: Watch Tesla's Cybertruck Reveal Fail Hilariously
Prior to its Cybertruck reveal fail, Tesla's stock had been valued at around $360 for the prior few business days. Following the reveal, and at the time of this story's publication, the stock had dropped to around $332. Tesla's stock price over the month looks great. A nice even rise, with a bit of a dip following the Cybertruck reveal. Over the past year, the value of Tesla's stock is essentially flat. The stock is down from its high of about $383, but many wise investors acquired stock at a price that puts them squarely in the profit category (should they opt to sell). Some others have not been so lucky.
Watch how Tesla Cybertruck sizes up with Model and a conventional pickup truck like the 2020 Ford F-150 and click to subscribe to Torque News for daily automotive news analysis.
Investors have thus expressed a negative view of the new Cybertruck with a clearly-linked stock value drop. For an opinion on the new Cybertruck's market success chances, we suggest that Tesla fans ignore the mainstream automotive press. We also suggest ignoring the electric vehicle advocacy press. What really matters is the opinion of truck buyers. We don't want to spoil the fun. Join a truck owner's forum for F-150, Silverado, or Ram and see how these owners/buyers are reacting to the new Tesla Cybertruck.
Tesla stock chart courtesy of Google and NASDAQ.
In addition to covering green vehicle topics, John Goreham covers safety, technology, and new vehicle news at Torque News. You can follow John on Twitter at @johngoreham.