Earlier in the summer, he opened all of the company’s charging technology patents, hoping to bring competitors together collaboratively. The motive was to improve charging technology universally, thus lifting the entire EV market. According to Musk, that’s been the company’s goal all along.
“Tesla Motors was created to accelerate the advent of sustainable transport,” Musk said at the time. “If we clear a path to the creation of compelling electric vehicles, but then lay intellectual property landmines behind us to inhibit others, we are acting in a manner contrary to that goal.”
It’s clear that the short-term performance of TSLA stock is not what drives Musk. He’s an innovator who wants to change the world and has the determination to do so.
And that’s why Money Morning experts are so bullish on TSLA stock long-term…
How Elon Musk Will Help the Tesla Stock Price Double
“Creativity as a thinker who can’t be boxed-in by entrenched competitors, the ability to cheerfully put tens of millions of his own money behind his vision when necessary, a solid grasp of what technology means for the industry he operates in… all of these are great qualities in a CEO,”Money Morning‘s Chief Investment Strategist Keith Fitz-Gerald said. “Any company, big or small, is lucky to have a chief executive with just two of them. Tesla has all three in Elon Musk.”
“He’s a visionary who can afford to be a visionary,” Fitz-Gerald continued. “We saw proof of this in April 2013, when Musk guaranteed a buyback value for his electric cars, which he pledged to honor with his own money should Tesla be unable to.”
That same short-term sacrifice was evident again this week, when Musk informed shareholders that earnings may dip in the next quarter, but the long-term payoff will be worth it.
Because of that vision both Fitz-Gerald and Money Morning‘s Defense and Tech Specialist Michael Robinson are bullish on TSLA stock.
“I believe TSLA stock will double within the next 12 months,” Fitz-Gerald said. “This company is on track to see a stock explosion that will make its surge back in the spring of 2013 look like a speed bump.”
“Tesla has enormous long-term potential,” Robinson said. “The best way to play the stock is for the long-haul. Musk is really a great visionary.”
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