By CCN: Due to a series of controversies including the shocking video of a Tesla Model S exploding in Beijing, a drastic shift to online sales, and a catfight between CEO Elon Musk and the U.S. Securities and Exchange Commission (SEC), Tesla had an underwhelming first quarter in 2019.

Tesla Stock Down 31% in 2019 While US Market Embarks on Massive Recovery

From January 11, within four months, Tesla’s stock price plunged from $347 to $239, by more than 31 percent.

Tesla stock has dropped by more than 30 percent year-to-date (source: Yahoo Finance)

According to Hitin Anand, a senior analyst at research firm CreditSights, the high valuation of Tesla at $41 billion indicates that investors see a strong long-term prospect for the company despite the concerns of several major investment firms and high-profile short sellers.

“Tesla’s market capitalization means there is ‘a large buyer base that is still valuing future growth for this company,’ Anand said, stating that Tesla will be able to raise additional capital as it wrote in its quarterly report.

Should Tesla’s Fundraising Sound Shareholder Alarms?

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