This Could Be Big for Tesla Stock
Many investors have different interpretations of Tesla Motors Inc (NASDAQ:TSLA) stock’s choppy ride in recent weeks. But let’s forget Tesla’s stock price for a moment because talk show host Jay Leno just issued a shocking wake-up call about the company.
Jay Leno recently spoke to CNBC. When asked about his opinion on Tesla, Leno’s first response was “I’ve got one, fantastic car.” (Source: “Cramer: Jay Leno’s Tesla Talk Can Inspire,” The Street, June 14, 2016.)
“I don’t understand why people attack this car,” he said. “It is made in America, by Americans. It is built local. You know we are becoming like the British—we like noble failures more than we reward success.” (Source: Ibid.)
Leno then compared Tesla’s founder and CEO Elon Musk to some of the greatest names in American history.
“I think Elon Musk is Thomas Edison or Henry Ford. I mean against all odds and people think he makes 2,500 cars a year, he builds 60,000. He sells more cars than Porsche and yet…any time one has the slightest problem, ‘oh, this is terrible, it’s a horrible thing’.” (Source: Ibid.)
What baffles Leno today is this: “I don’t understand why we don’t celebrate entrepreneurship and success more in this country.” (Source: Ibid.)
Note that other than being a famous comedian and television host, Leno is also known for his car collection and his Web and TV series, Jay Leno’s Garage. He owns more than 150 automobiles and over 100 motorcycles. The most impressive part is that Leno doesn’t let his cars sit and become garage queens. Instead, he drives those cars the way they were meant to be driven.
Jay Leno admits that he is “one of the people who believe engineers will save the world.” And based on what Elon Musk has achieved—not just in the car business but also with SpaceX—the Tesla founder could be one of those engineers.
Trading at $217.22 per share on Thursday, Tesla stock is down 9.5% year-to-date. However, since its initial public offering in 2010, TSLA stock has skyrocketed 1,177.8%. So I guess it could still be rewarding to believe in the American dream.