Elon Musk Master Plan Drags Tesla Motors Stock Down
Tesla founder and chief executive officer Elon Musk might be feeling good about unveiling part two of his company’s master plan, but his investors don’t seem to be buying it, because Tesla stocks have plunged more than three percent.Advertisement
Recently, Musk decided to update the master plan he had created for the company 10 years ago. He is proud to say that his plan is now in the “final stages of completion.” He also said that his plan consists of four parts.
The first is the development of a low volume car he said would “necessarily be expensive.” It is safe to say that this pertains to the vehicles Model S and Model X. The next plan is the creation of a medium volume car that would have a slightly lower price. This would seem to be the Model 3.
And with the earnings from the Model 3, Musk unveiled that he would using the money to create a high volume car that would be affordable. Following the product road map, Musk said he will turn his focus to solar power.
Musk wants to make it clear, though, that they are not just a company that would create vehicles “for rich people.” Rather, they want to be able to satisfy a broader demographic, hence Musk also announced that plans to put out “a new kind of pickup truck” as well as a new compact SUV. Apparently, the plan did not seem to go well for investors.
According to a report from MarketWatch, analysts have said that Musk’s plan to venture into terrestrial transport “were broader than we expected.”
Meanwhile, a report from Fortune notes that there are some who are doubting Musk future plans.
As far confidence in Musk goes,Tesla stock is now down by 3.442 percent with a current price of $220.50.
Also read: Employees Chip In To Get CEO A Tesla