Fondstrat head of research Tom Lee says that he is still bullish about Tesla (TSLA) despite the recent feud between billionaire Elon Musk and President Trump.
In a new video update, Lee shares a long-term chart for TSLA, which suggests that even after its 40% decrease of all time, the price of the share simply retouches a support level of previous years.
“Tesla investors are used to this. If you take a step back and look at Tesla from his 2010 to now, when today it went from $ 1 to $ 280, sees the decline that we recently see really seems as if it just comes back to support, so I don’t think the image has really changed for Tesla in the long term.”
Lee also mentions what he believes that different bullish are fundamental developments for Tesla, and adds that Fundstrat is not ‘too worried’ about the price dip of TSLA.
“Let’s just look at the competitiveness. Tesla is in the lead in EV design, the management in the production of electric vehicles, they will soon have a robotaxi-product-it will start next week and they have a competitive, much competing robotaxi design that has about a fourth cost of the nearest competitor.
And Tesla is planning to introduce optimus robots …
And of course there are drones in the future. So if you look at the series of products that Tesla has, it is pretty unparalleled, and then there is the possibility that they can merge Xai, which is their AI (artificial intelligence) unit that is also the owner of the Platform X.com, previously known as Twitter.
And with all of that I would say that Tesla of course still has all the benefits, and so we are not too worried about the decline. “
https://www.youtube.com/watch?v=WLT2DF3ZA-S
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