Time to look back on the 2018 predictions from 12 months ago…. how many of the predictions came true?
1. Tesla share price to drop significantly
Tesla stock was $312 on New Years Day 2018 and finished the year at $333, so on the face of it, the prediction was incorrect.
However, on 7 August, Elon Musk made the headlines by tweeting that “funding secured” at $420. The share price jumped 10% to $379. He was personally fined $20 million, and the company was fined the same amount.
Two months later, the stock was $250. The stock has been relatively volatile since then, climbing back to $376 and back down to $333.
Amazingly, the offending tweet is still live.
I also mentioned how “2017 was generally a good financial year, and if consumer confidence drops in 2018, people will buy fewer cars.” Ford stock started 2018 at $12 and is now under $8. General motors started at $41 and is now $33. Jaguar Land Rover (which is a private company) made a pre-tax loss of £90m for the three months to end of September, compared to a profit for the same quarter in 2017. The firm’s Solihull plant, where it makes Range Rover and Jaguar models, was closed for a two-week shutdown due to “fluctuating demand”. That followed a move to a three-day week at JLR’s Castle Bromwich plant.
Prediction rating: 5/10 – Tesla stock has been a volatile stock in 2018 but has actually finished higher Continue reading Review of 2018 predictions