Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk thinks investing $150,000 in the EV giant's stock could yield high returns for the investor.
On Tuesday, a user on social media platform X, Cole Grinde, shared a screenshot of Tesla stock performance since it first went public in 2010, with the caption "$150,000 invested in Tesla will most likely make you a millionaire."
Responding to the post, Musk agreed with the caption. "I think this is probably correct," the billionaire said on Tuesday.
Musk is all set to receive over 96 million Tesla shares as part of his CEO compensation award. The shares amount to over $29 billion in value. However, it's still shy of the $56 billion package originally approved by the Tesla board before being overruled by a Delaware judge in 2024.
Despite this, Tesla's sales are falling in multiple markets across the world, with European sales down in double-digit percentages in countries like France and the UK, where Tesla delivered 987 units in July, marking a 60% decline.
Tesla's Robotaxi faced criticism from analysts like Future Fund LLC's investor Gary Black, who said that the EV giant isn't the only one that will "master unsupervised autonomy."
Elsewhere, the company announced it would be expanding its ride-hailing service in the San Francisco Bay Area. However, it's worth noting that the ride-hailing service isn't a Robotaxi as there will be a safety driver present in the car at all times.
Meanwhile, Tesla rival BYD Co. Ltd. (OTC:BYDDY) (OTC:BYDDF) announced it was bolstering its presence in the European market by introducing its two sub-brands, Yangwang as well as Denza, into the region next year.
Tesla scores well on Momentum, Quality and Growth metrics, but offers poor Value. For more such insights, sign up for Benzinga Edge Stock Rankings today!