Tesla Stock Is on a Road to Nowhere

This time it’s about disappointing March car deliveries. Those deliveries missed expectations, causing Tesla stock to tumble about 8% near midday, to $268.57 per share.Sure, Tesla stock has been swinging this way and that in recent months. There was the time it dropped 5% on March 15 after the unveiling of the Model Y, a small SUV; the time it fell 7.8% on March 1 after Tesla said it wouldn’t turn a first-quarter profit, and the time it gained 5.7% on Feb.

But Tesla’s chart puts those wild swings in perspective: It is all sound and fury amounting to next to nothing. This chart shows that Tesla stock has been mired in a two-year trading range, with a top near $385 per share, and a bottom near $245 per share. It is a massive range—investors could have made almost 40% by buying at, say, $260 and selling near $360. Or they could have made more than 25% by selling at $360 and buying back at $260. Buy and hold, however, has been a roller-coaster ride to nowhere.

And don’t look for this week’s delivery news to settle the argument. If you’re a Tesla bear, the disappointing numbers just confirm that there’s not enough demand for Tesla’s cars to justify its stock price. But if you’re a Tesla bull, you can argue that the news was either priced into the stock or that the long-term story is unchanged.

So who’s right? Nobody yet. At some point, the range will break one way or the other, and then we’ll have an answer.

This article also was a road to nowhere haha it didn’t say anything but glad the article quota was met for the day

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