Elite Capital International: TESLA Stocks Dives deep down as Global Stock Market panic
Falling twice more than Dow Jones and S&P 500, the electronic car company 'TESLA' Stocks hit deep bottom just this Monday
By: Elite Capital International
February 24th of this year is one of the saddest day for investors as stock market falls smacked down real hard, but it hits harder for Tesla Stock. Due to fear mongering CoVid19 Virus (Coronavirus)
But not like most stocks that is falling down because of the above mentioned reason, Tesla's stock drop has been predicted by analysts. They've been warning investors that its price is expected for a big correction, making it look like an early bubble burst.
According to ETH Zurich's FCO 'Financial Crisis Observatory,' Tesla – "is a typical Dotcom-like bubble and very dangerous for short-sellers,"
In most cases investors may panic with Dow Jones 1,031.61 drop but their 3.56% sell-off and so with S&P's 3% is nothing against Tesla's 7.8%.
Concluding 'TESLA' as the most affected in the stock market fall down last Monday, it will be hard for the company to crawl back on top; one reason is the outbreak has restrained most of their plans on their China Expansion and so with their Shanghai factory. Showing a 'clear-headwind' for the company.
Garrett Nelson an Equity Analyst at CFRA said TESLA's dependency on its new China Factory influence the fall more than many other auto maker.
He said, "The fact is that Tesla has much greater asset concentration risk than other, more diversified competitors."
It may seem that TESLA is not so sought after like the time of IPO but to Tom and David Gardner, Motley Fool co-founders, TESLA is still one of their top 10 stock pick.
Companies experience low at times and it's inevitable, TESLA is not an exception, but giving it a chance, the electric-car company may go further more like technology grows as time passed.
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Elite Capital International