It seems like everyone wants to be famous anymore. However, a lot of times it really isn’t all its cracked up to be. The fame bug strikes even chief executive officers and chairman of the boards of S&P 500 companies. They want to be seen as a prosperous celebrity because it helps their company gain attention and sales, and they also often have pretty big egos. Steve Jobs of Apple was this way as is Virgin’s Richard Branson.
Which brings us to Elon Musk of Tesla. Professional investor and former Wall Street trader Paul Mampilly says that Elon Musk has gotten a lot of attention from the financial press. Elon Musk invites the attention but there has been blowback as when he makes a misstep or something bizarre comes out of his mouth it gets reported on. The stockholders of Tesla have gotten increasingly unhappy about this state of affairs and would like him to dial it down. They aren’t sure if he’s trustworthy enough anymore to run a company like Tesla.
Paul Mampilly writes and edits a popular financial newsletter, Profits Unlimited, in which he writes about investment opportunities based on his in-depth research into American firms. His material is highly accessible and can be read by novices when it comes to investing as well as seasoned investors. Some of the areas he has advised his readers to invest in include precision medicine, the Internet of Things, and things that the millennial generation are buying. His newsletter has over 130,000 subscribers.
While Elon Musk has had some, frankly stupid, meltdowns Paul Mampilly thinks that he’s still the right guy for the job of CEO at Tesla. He thinks despite all the distractions that Musk causes the company he leads is on track to have pretty good production numbers. He says that when Elon Musk simply gets out of the way and is quiet the stock does pretty well. Paul Mampilly sees Tesla as a company with pretty good growth potential and if its stock hits $300, which he sees as price support, it would be a great time to jump in.