Elon Musk is loosing Tesla's competitive strengths.
The electric vehicle group’s stock price has lost about a fifth of its value in a week.
As the firm’s stock price went down below $200 this week, Elon Musk says goodbye to his most important levers in maintaining the EV company moving forward.
Tesla’s price had been a powerful competitive strength for Mr Musk, that allowed him to raise large amount of finance relatively cheaply.
However, a moments of setbacks, resulting from the unsatisfactory earnings figures to concerns regarding demand of its EV, and a few catastrophic failures of its vehicles, have lowered investor’s attitude.
Prices slid 40 percent only this year and it is currently traded near to its lowest level since 2017. However, its fans believe that the short-term bumps in the road were worth enduring for the longer-term goal of sparking mass adoption of electric cars.
Although, the carmaker did miss quarterly expectations, deliveries of its vehicles remained three times higher than in 2017, when shares traded at $383 and the company had a bigger market value than Ford.