Is Tesla Stock Your Ticket to Becoming a Millionaire?
Without a doubt, Tesla (NASDAQ: TSLA) is one of the most intriguing stocks on the market. The polemical views on the company portray it as either a damaged brand with an aging lineup of vehicles on the cusp of being exposed as a hugely overvalued car company -- or a technology company about to explode by unveiling its primary value creator, robotaxis, in due course. Here's the lowdown.First up, some simple math to illustrate how Tesla might make you a millionaire. For the sake of argument, let's assume that Ark Invest's "expected value" price target of $2,600 for Tesla stock in 2029 comes true. Then you would have to hold 385 Tesla shares to have $1 million worth of stock. Buying those shares at the time of this writing would cost you just shy of $105,000.Based on just the significant initial outlay required, Tesla stock is unlikely the best candidate for most individual retail investors to become eventual millionaires. Having said that, the stock still has the potential to generate hefty returns.Continue reading
Without a doubt, Tesla (NASDAQ: TSLA) is one of the most intriguing stocks on the market. The polemical views on the company portray it as either a damaged brand with an aging lineup of vehicles on the cusp of being exposed as a hugely overvalued car company -- or a technology company about to explode by unveiling its primary value creator, robotaxis, in due course. Here's the lowdown.
First up, some simple math to illustrate how Tesla might make you a millionaire. For the sake of argument, let's assume that Ark Invest's "expected value" price target of $2,600 for Tesla stock in 2029 comes true. Then you would have to hold 385 Tesla shares to have $1 million worth of stock. Buying those shares at the time of this writing would cost you just shy of $105,000.
Based on just the significant initial outlay required, Tesla stock is unlikely the best candidate for most individual retail investors to become eventual millionaires. Having said that, the stock still has the potential to generate hefty returns.
