There is likely a inverse head and shoulder forming. With Telsa model 3 electric car coming out soon, and Tesla trying to convince model 3 reservation holders to buy model S 60 instead, the demand for their car will only increase. Once the production for model 3 (for mass market) stabilize, we should see the stock price going up. $400 is the target.
I subscribe to the belief that electric car is the future. There are many positive development in this industry. Sooner than later, the urban road will be filled with many electric cars.
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