Tesla's Tumultuous 2018: A Whipsaw Year Beyond the 3.8 Percent Gain
While Tesla's stock shows a modest 3.8 percent gain for 2018, that simple number hides an incredibly volatile year of extreme highs and troubling lows for Elon Musk and his company.
Tesla ends 2018 with a modest 3.8 percent gain in its share price, a figure that completely obscures the extreme volatility of the year. This single number suggests a calm, steady ascent, but the reality is that the company acts as a dizzying whipsaw for shareholders, employees, and Elon Musk himself throughout the entire calendar year.
The automaker faces severe "production hell" with its Model 3, pushing the company dangerously close to bankruptcy. Musk later reveals that Tesla is within single-digit weeks of death as it burns through millions of dollars daily, a stark contrast to the simultaneous successes of his SpaceX venture completing historic Falcon Heavy rocket tests.
Musk's behavior adds to the chaos, featuring an ill-timed April Fool's joke about the company going "bankwupt" and a bizarre photo of him passed out against a Model 3 surrounded by "Teslaquilla" bottles. These self-inflicted incidents, combined with credit downgrades and massive stock option grants, make 2018 an exhausting and unpredictable ride for everyone involved.