Tesla Motors Inc (NASDAQ:TSLA)‘s investors need not to worry about a slight dip in the stock’s price, because the man behind the wheel, Elon Musk, Tesla’s CEO, is not going anywhere until he has accomplished all, and he is just starting. CNBC’s contributor, Michael Murphy, talked about both the recent dip in Tesla Motors Inc (NASDAQ:TSLA)’s price and Elon Musk’s ambitions.
Murphy confirmed that there was no alarming factor involved in the recent dip. It was just a bump on the long road of success and adventure for Tesla and Musk and shareholders should sit tight with their holdings. The dip is a natural play of lady randomness as she takes a liking to various stocks every now and then. The combined dip of SolarCity Corp (NASDAQ:SCTY) and Tesla Motors Inc (NASDAQ:TSLA) has caused Musk’s net worth to drop by about $1.5 billion, but it’s just another day at the office for him.
“[…] You look at it year to date. Tesla Motors Inc (NASDAQ:TSLA) is up about 60 percent SolarCity Corp (NASDAQ:SCTY) is up 7 but in the past year both were up over 60%. I would love to have Elon Musk’s problems right now. Yes, the stocks have pulled back a bit, but this guy is an innovator. He is one of the guys we are going to be talking about for the next 10 years at least […],” said Murphy.
Hints of this pullback in Tesla Motors Inc (NASDAQ:TSLA)’s stock valuation were provided earlier even by Musk himself. In an interview with CNBC he had said that the stock was in a high valuation region. Investors showed over exuberance as Tesla Motors Inc (NASDAQ:TSLA)’s Gigagactory location was finalised recently.
With Tesla Motors Inc (NASDAQ:TSLA), Musk is trying to change not only the face of automotive industry but also how we satisfy our energy needs. While Tesla Motors Inc (NASDAQ:TSLA)’s electric cars take care of the former, the innovation in electric batteries that goes hand in hand with automotive industry has the potential to usher in a new era of sustainable energy.