Do you really think this or any stock can continue to go straight up without some type of correction? Don't care what the company is. Just show me one that has not corrected on its way up when it gets ahead of itself.
No this stock is going to keep going up. The company is building a product that is at the forefront of a new shift in the way we travel. This is a big deal. This is like when the first cell phone came out. slow at the beginning but then smashed through like a bat out of hell.
The great thing is that this Elon guy is focusing on quality and customer satisfaction just like Steve Jobs did. He is doing everything right and is selling the perfect product at a perfect time.
And that my friend is why this company is going to make everyone rich.
The first cell phone did not cost $100,000, now did it? There is only so many $100,000 electric cars that the market will absorb. If they cannot produce a $30 K electric car at a profit, they will remain a boutique car manufacturer. I believe that Toyota will beat them to this mass market for the electric car in the $30 K range.
This company is hardly Google as well. Google is a lot more mature a company. Tesla may, I said may, get there one day, but at this time they are not there. They need to make a profit other than by selling chits to the other manufacturers.
I do believe that they have a long way to go until they become a mature, self sufficient company.
It is exactly this attitude that we witnessed in 1999 and early 2000 when companies were being bid up on a promise not fundamentals. Sure TSLA could be a great money maker some day in the future, but without the government incentive, they would have a hell of a difficult time selling their $80K electric toys to Main Street. The fact is at a valuation of $10B, it's gotten way ahead of itself. We're in the middle of a massive short-squeeze, its as simple as that. Big funds bet the wrong way on this stock and need to unwind. The selling/covering may be over based on today's tape. There's no need to get too excited here - take your profits and don't get greedy.
All depends upon what price you purchased it. If you purchased it at $85 or higher, you should be worried. If you purchased it at 40, 50 or 60, you'r ok for the time being. I for one, remember apple computer at $650 when people were calling for 900 to 1000. That never happened did it?