September 29th, 2015 was a surprise day for Tesla Motors Inc. The day saw the launch of their new auto, Model X. The market was full of anticipation that the launch would make a tremendous change to the company’s stock performance in the NASDAQ. The company that is listed as NASDAQ:TSLA is still grappling which the new developments at the stock exchange.
George Zack, a journalist with Get Bidness Etc Newsletter, published an article on Tesla Motors Inc (TSLA) on Stock Dip as the Launch of Model X was highly anticipated. The Article that was published on 28th September, a day before the model’s launch, brought about the picture on the poor stock performance despite the new venture by the renowned automaker.
According to George Zack, the company shares drew back with a percentage of 1.42% in the previous week with the worst drop of over 2.3% on 27th September, the previous day. The stock traded at a price of $ 254.68. Mr. Elon Musk, who is the company CEO, had not clearly commented on the stock price, but had provided various updates that were promising to the investors. Market prospects had indicated to investors an objective prospect stock price of up to $335 per share after the Models was launched.
The unveiling of the company’s first SUV in 2015 was one of the strategic projects that the company had planned to use to improve the stock value at NASDAQ. The initial roll out saw 50 Cars introduced to the market upon the model’s launch. Over 10 days after the launch, the stock still runs at an average price of $ 231.96.
However, Tesla remains focused on bringing more SUV and upmarket designs and models. There will be an integration of innovative technology into the vehicle operation, control and security designs of the future automobile launches. While working closely with technology gurus, the company plans to engage Apple in coming up with Apple Cars. The anticipated launches will translate into the introduction of Apple Stock (APPL). Model Y will bear better bet for the organization that might bring stock movement at NASDAQ.