I think the current investors are not excited about cheaper cars and batteries that last 1 million miles.
Musk is a fundamental Greenie and normally the conservative investors would hate that. In the past Musk has openly stated he doesn't care about the share market, what ever that means and even that didn't scare the investors away. Many are/were in it as in 'go with the flow' and many would have done well and after the news about 'everlasting' batteries(how are we gonna earn on that?) a good time to cash in.
Tesla is not a drop in the EV market, it IS the EV market. Without Musk there wouldn't be an EV market. He is the disruptor of this Millenia and it looks like he is not finished and probably never will stop disrupting until he dies. I think he talks rubbish a lot of times but he can afford that because he does end up actually doing not just talking, unlike many others. He is a crazy genius who doesn't need to know too much about the facts, he has his engineers for that. He employs the best engineers because he can afford them and when he says that he can make batteries with pure cheap nickel and use super safe LiFePo in vehicles, I believe he will. Pretty much every other project he has talked about is coming to fruition. God knows what he will be up to with his StarLink and SpaceX a huge success paving new paths for the future.
Everybody wants cheaper batteries. Musk will make that happen and being open source I have no doubt most of the others will follow.
Like every other share price it will go up and down. Nothing goes linear up for ever.
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