Is Elon Musk’s Tesla Stock About to Take a Dip in the Market?

Elon Musk’s philanthropy is not new to many business owners

Is Elon Musk’s Tesla Stock About to Take a Dip in the Market?

Elon Musk’s philanthropy is not new to many business owners. The tycoon has set his sights on multiple endeavours including, but not limited to, the production of Tesla, his brand of electric-powered vehicles. His answer to hybrids have become a craze and have been met with an appeal by the public to look forward to a greener and more innovative future. But business analysts see his current movements, and past trends reveal more than just a business CEO.

The unreliability of Musk’s promises

Though he has become sort of a celebrity in his promotion of innovation and invention, business analysts have been keeping an eye on Musk’s statements as his promises are akin to that of a rookie businessman. Musk has been known to proclaim unrealistic deadlines on the release of his vehicles as his prime automobiles such as the Model X, and S were behind the actual announcement date.

Musk has also been known to boast ridiculously low prices for the vehicles that he manufactures, making economists unsure if he is aware of the implications of the number of units he sells and the reality of the costs of production. He promises to double his figures by increasing his production capacity. His intentions of acquiring another production line at Fremont could be a way for Musk to silence critics about his slow rate of production and his inefficiency in committing to his deadlines.

With Elon Musk’s Model 3 soon on the market, many are doubtful that it will be delivered on time as Musk is struggling to develop his other projects such as the Space X along with his other startups.

Musk on social media

Musk is not new to using tweets as digital rollup banners to explain his, sometimes, radical opinions online. He has had his charitable efforts during the Thailand rescue incident denied by local authorities. Though he was coming in with good intentions, he was eventually driven out of the matter when the boys were subsequently rescued without his help. Musk has been proficient in communicating through social media, but it must have dealt a blow on him not to have his usual clamour of support from his fans.

Just recently, the newest in his line of social media antics is smoking marijuana in Joe Rogan’s podcast. Initially wary of how his shareholders would think, he eventually gave in to the host’s offer and smoked his first joint live on stream. Though it’s completely legal in the state of California to do so, that didn’t stop his shares from dropping a fair amount in the market.  All in the spirit of good humor, Elon Musk didn’t shy away from the absurdity of the criticism he’s receiving and even tweeted on Twitter that he would jokingly put the new model of Tesla at an affordable price of $420.

Since investors are not new to his growing ‘instability’ regarding his public persona, they are still committed to sponsoring the young philanthropist because of his considerably large fan-base and influence as an innovator.

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Updated Date: 24 October 2019, 21:19

Recep Karaca

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