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Elon’s Amazing Tesla Year

By Tim KnightStock MarketsNov 26, 2020 01:13AM ET
www.investing.com/analysis/elons-amazing-tesla-year-200545937
Elon’s Amazing Tesla Year
By Tim Knight   |  Nov 26, 2020 01:13AM ET
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There are a handful of stocks which have the vast majority of the world’s attention. You need only spend a moment at /WSB to see all the teens bragging about their jaw-dropping gains, and I feel that an entire generation of compulsive gamblers is being created at this very moment. After all, how are you going to convince a kid to go through four years of college and hope for a $60,000/year job when you have this kind of post showing up every hour:

Chart
Chart

(he went from $3,000 to $102,000 in two weeks just by buying short-term calls in meme stocks)

One of the favorite stocks in this crowd is, obviously, Tesla (NASDAQ:TSLA). It is up almost 800% in the past year. This is a niche electric car maker, about to be hammered by massive competition, and it is floating a market cap of nearly two thirds of a trillion dollars. Excuse me, but in-fucking-credible.

What a lot of folks don’t realize is that the vast majority of the stock’s price has been created just in the past year, instead of the nine years preceding. I don’t normally use arithmetic charts, but I will to make a point, so just check this out:

Tesla Chart
Tesla Chart

What a contrast this is to Amazon (NASDAQ:AMZN)—which is no slouch itsel—but is up “only” 75% in the past year. I have chopped off Amazon’s price history prior to 2010, to make it line up with Tesla’s chart above, but as you can see, it has been packing on the meat fairly consistent for many years, as opposed to its entire ascendency being just since late 2019.

Amazon Inc Chart
Amazon Inc Chart

I’ve been in this business a very long time. I have never—ever—not even close—seen the kind of insanity in my life that I’m seeing right now. When it finally blows up in the year 2918, it’ll be a sight to behold, but in the meantime, all the youngsters are of the same mindset.

Elon’s Amazing Tesla Year
 

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Elon’s Amazing Tesla Year

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Comments (4)
York Regent
York Regent Nov 28, 2020 12:15PM ET
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Who could have predicted a pandemic in 2020. Yet its real, its here and its gonna be with us for ever. What you call insanity may also become reality and may become an embedded part of the history. The question to ask whether Elon Musk has enough rabbits in his bag to turn this supposed insanity to reality. I believe he has. All developed countries want only emission free cars on their roads in 10-15 years. Thats a massive massive volume that ten Teslas will not be able to fulfil the demand. Lets the kids have fun in the meantime.
Marco cuevas
Marco cuevas Nov 27, 2020 9:25AM ET
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What's a matter bears are you guys tired of losing money yet?
Victor Asturias
Victor Asturias Nov 26, 2020 5:34AM ET
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“With a little help from my friends” (Fed & SP)
Nana Mills
Nana Mills Nov 26, 2020 5:21AM ET
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So what do you suggest? To still hold tesla stocks?
 
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