2022 was not an ideal year for retail investors of Tesla Inc stocks as the share market value of Elon Musk-owned electric vehicle manufacturing company tumbled by more than 60 percent. A large number of retail investors who have been with Elon Musk and his Tesla since its initial public offering in 2010, witnessed humongous erosion of wealth from their tesla portfolio.
Doug Coyle, who is a 68-year-old retired landscaper began investing in Tesla Inc in 2012. Since 2012, Doug Coyle invested nearly 100000 dollars in Tesla stock. The value of his Tesla stock portfolio touched 3 million dollars in November 2021 when the stock prices of EV manufacturers were at their highest level.
Doug Coyle lost about $1.5 million in the paper as investors put downward pressure on Tesla Inc stocks. Doug said that he decided to keep Tesla stocks with him for a long time despite his son imploring him to sell.
Tesla inc that crossed a 1 trillion dollar market capitalization in 2021 is currently valued at just 381.92 billion dollars. The supply chain crisis and various business decisions of Chief Executive Officer Elon Musk pushed the stock downwards in 2022.
Pandemic bubble and aftermath
During the COVID-19 pandemic period in 2020 and 2021, Tesla stocks surged along with other tech stocks as higher earnings and revenue encouraged investors to pump money into the markets.
The markets returned to a sluggish trading environment when tech companies began posting decreased revenue due to economic volatility. Tesla stocks also began tumbling at that time.
Doug’s son, Dennis Coyle invested 20000 dollars in tesla Inc stocks in March 2020. Within a few months, the stock holding value zoomed to 60000 dollars when he decided to sell the stake and take the money. He utilized that money to make down payments on his housing loan.
Both Doug and Dennis Coyle believe that Tesla Inc stock will be highly profitable in the long term as various market analysts have predicted the stock to reach 500 dollars by 2026.
Another Tesla investor Adrian Mora who works at the Department of Veteran Affairs recently decided to invest 210000 dollars in Tesla stock by selling his house. Since then, his stock value has gone down by 70 percent. He is now planning to withdraw the money in order to avoid more losses.
“This is my whole life savings,” he said. “I come from a Hispanic family, and you always hear that my people never get ahead because we never invest. But now I see there’s a good reason my people never invest — you can lose all your money.”
Thousands of similar retail investors have different stories to share about their experience in keeping Tesla stocks.
