A decade later and a $ 5,800 flyer in a new electric car company would have turned a savvy or fortunate investor into a millionaire. Or, in the case of Brandon Smith, an initial investment of $ 10,000 in 2017 along with some small additional purchases along the way satisfied.
Earlier this month, Smith celebrated his “TSLA-naire” status in a tweet:
Smith, who doesn’t even own a Tesla TSLA,
vehicle, is one of the countless fans who have pledged their undying devotion to Elon Musk and been richly rewarded for it so far.
“I’m not making six figures, and I don’t know about sinks and options,” Smith told Bloomberg News in a recent interview. ‘I just bought it and kept it all the time. I’ve never sold a share. “
Tesla stock is up nearly 700% this year after being boosted by joining the S&P 500. But a blockbuster 2020 is just another chapter in the volatile journey to dazzling returns.
As Tesla bulls continue to shake off the naysayers, others, like Wolf Richter of the popular Wolf Street blog, who refers to this “ quadruple WTF chart of the year ” as a warning sign, continue to sound the alarm that the momentum and the high rating may be the last
Nonetheless, if Tesla had eagerly listened to the doubters on their incredible journey, they wouldn’t be in the position they are in today: enjoying their freshly beaten “TSLA-naires” status. Bloomberg used this chart to get some insight into that journey:
So $ 5,800 ten years ago is now worth $ 1 million. Perhaps more surprisingly, $ 127,600 hit that amount a year ago as Tesla pushed five consecutive quarters of profit and a lot of hype to new heights. At last check, Tesla was trading in green, while the Dow Jones Industrial Average DJIA,
technically heavy Nasdaq Composite COMP,
and S&P SPX,
were also higher during Thursday’s shortened trading session.