Coinspeaker Tesla (TSLA) Stock Rises 15%, Is It Time to Buy TSLA Instead of Toilet Paper?Tesla Inc (NASDAQ: TSLA) stock price went up in the pre-market today. And this tendency continued when the market opened. This indicates that Tesla is getting something right amidst the stock market chaos. The COVID-19 situation has driven everyone into panic mode. As such, the reaction of the markets is panic based on irrationality rather than rationality that produces results. The ensuing chaos that this has produced has led to many otherwise normal people doing abnormal things due to one emotion: fear.Tesla (TSLA) Stock Is Doing Okay for Several ReasonsThen again, Tesla seems to be winning at the moment for several reasons. In the middle of all the fear, the company is still producing cars. Sources say that the 10,000-strong facility in Fremont California is still churning out electric vehicles. This indicates that Elon Musk has made an about-face on worker reductions to 2,500. While it may seem like an ill-timed move, it may be a stroke of genius. COVID-19 isn’t going away anytime soon. while other automakers have shut down their facilities, Tesla is still up. Then again, if the situation warrants it (critically), Tesla will shut down. Secondly, electric vehicles are still gaining ground despite COVID-19. In comparison to the cost and other factors, electric vehicles are still gaining ground over internal combustion engines.Tesla has proved that they are light years ahead of everyone else when it comes to this industry.From the make and design of their models to their battery-retention, charging capability and electric motor Torque. Tesla seems to have moved far ahead in the game in such a way that they may never be caught. In the shortest space of time, we are going to see an actual takeover of electric vehicles. Many analysts believe that the recent technology innovations have been much faster as per adoption than in the twentieth century. We would see faster adoptions in short spaces of time in this decade. Tesla’s innovations will follow this trend too. COVID-19 won’t stop this new trend. Cash Reserves Also Play Crucial RoleThirdly, Tesla’s numbers make the automaker an investors’ sweetheart. With a cash reserve of about $8.6 billion, there is a whole lot that the automaker can achieve while things are sideways for many. Its supply chain will get cheaper as bargain deals will be gotten to keep Tesla as a customer for suppliers. Tesla may also go on a buying spree and get the tech it needs to maintain a market lead. The reserves also put the company in a reportedly comfortable position for two more quarters. This makes things easier for Elon Musk and his people. Fourthly, Elon Musk and his team are also another factor by themselves. The level of innovation displayed by Elon and his team at Tesla is pretty much on another level entirely. This will serve them well during this period. Elon is known to adapt pretty quickly to situations. Charles Darwin had something to do with biological adaptation (pun intended). Corporate adaptation also exists. Elon is a serial entrepreneur who knows how to stay in the game long enough to win. His staff also have a similar attitude (how else will they be working with him?). This puts Tesla in a win-win situation regardless of how things turn out. Companies are made up of people. The cost-advantage of an electric vehicle can’t be ruled out. as well. This will be factored in on both a retail and broader scale as well. As legacy automakers continue to pile enormous amounts of debt on their balance sheet and pay less attention to EVs Tesla stands out. So while others are rushing to buy toilet paper and other stuff in panic mode, why don’t you buy Tesla (TSLA) stock?As of the time of filing this report, Tesla (TSLA) stock stood at $501.84 (15.55%).Tesla (TSLA) Stock Rises 15%, Is It Time to Buy TSLA Instead of Toilet Paper?
Twitter CEO Decides to Donate $1 Billion of Square Equity to Fight Coronavirus
Wednesday April 08, 2020
Coinspeaker Twitter CEO Decides to Donate $1 Billion of Square Equity to Fight CoronavirusOn Tuesday, Twitter CEO Jack Dorsey said he was putting up $1 billion dollars of his own money to fight COVID-19. According to Dorsey, the funds will come from his equity in Square, financial services and mobile payment company. The sum makes […]
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