Last year saw Tesla bagging all the profits and this has led many investors to park their money on the automotive firm. Well, things are not looking to good now as Tesla’s stocks have fallen sharply.
It was only last November when Tesla stocks were valued at $260 a share and January saw the value dipping to a new low of $185. For this month however, things have slightly recovered as the shares are valued at $220 each.
It seems that the value drop is caused by the plummeting oil prices and consumers are now shifting back to average cars instead of electrical cars. If the pattern is to continue, the Tesla stocks will continue to drop in the future to come.
This is very bad news for those that have purchased Tesla’s stocks in recent years. Even so, Wall Street analysts are tipping for the stocks to gradually recover when fuel prices starts rising again.