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Why Do Millionaires Consider Tesla Inc. the Best Investment in 2020?

Why Do Millionaires Consider Tesla Inc. the Best Investment in 2020?

Dec 26 2019


During the tropical seasons of August 2018, Elon Musk on an interview, which went so viral and contravention, predicted that the Tesla company stock would hit the magic number of 420 US dollars by taking Tesla private. The price was a 20% premium during that time.

Tesla Troubles

Shortly after the podcast, Elon Musk seemed to take a hit on a marijuana cigarette, leading to the judgment of Elon Musk’s behavior among investors and board members. This issue even reached the SEC (Security and Exchange Commissions), forcing him to step down from the chairman position for more than 3 years.

Fortunately, Elon Musk has secured a legal achievement during the month of December.

Tesla faced plenty of challenges like distribution challenges, a sales slump and quarterly losses. All of this led to heavy losses in Tesla shares, as low as 117 dollars a share in June.

In recent months, there was a great shift in the wind for the Tesla team and Elon Musk. The rise in sales boosted Tesla to a great gain in the third quarter, they introduced the fourth car, and even completed the construction of a new factory in China, the world’s largest potential market for electric cars.

After two months of complete exertion, Tesla is instantly over the share price offered in the last year.

Tesla Stock Hits Record

On Monday, its stock price reached the magic number of $420 a share; the number that Elon predicted during the podcast interview we discussed previously. Elon Musk tweeted with a screenshot of a chart stating the share price of 420.69$.

The growth in share advanced after a day, leaving the share above $425 at the close of trading. They are now higher by 70% in just 2 months.

Predictions for Tesla Stock

The CNN business forecasts the future stock price of Tesla Inc. to be as high as $734, 34.420% increment, within the next 12 months. It means if invested 100 dollars now in tesla stock, it will be worth $134 on December 2020. This means that Tesla stock is now a trending interest in the portfolio operated by many successful investors around the world. Trading stocks with such a forecast of the bull is always a lot easier.

Tesla Is in Middle of Massive Turnaround, Says Dan Ives

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