Tesla could be hurt by crashing oil prices

Over a week ago, before COVID-19 was classified as a pandemic, Russia and Saudi Arabia entered into a price war, forcing crude oil prices to plummet.

With the coronavirus pandemic limiting both business, leisure, and regular travel, globally crude oil is in for a world of hurt.

But with crashing oil prices will come even less demand for electric cars.

And that is not a good sign for Tesla (NASDAQ: TSLA).

As the stock market crash began in February, Tesla appeared to move with the market, with losses hovering right around the S&P average.

But as the market has started to shed growth stocks at a higher rate than the rest of the market, Tesla has been hit hard.

And with no sign of a price hike for crude oil and a potentially contracting economy forcing consumers into cheaper alternatives, Tesla could be in for a world of hurt.

Click here for more on why Tesla plummeted on Monday.

$3 EV Play No One's Talking About

This company is a sneaky EV play that no one’s talking about. They’re producing an odd variation on the traditional EV that has consumers raving.

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$30 Stock Freaking Out Billionaires

This stock is an industry leader in a robotics technology that is freaking out billionaires (trading for just $30).

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The Best TaaS Stock Right Now

This company is set to corner the market in a self-driving technology that  could fundamentally change our entire society – much like the internet did.

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Up to 20,000 IPOs All in One Day

A radical $2.1 quadrillion shift is coming to the financial markets.

Some are calling it G.T.E. and Mark Cuban, Elon Musk, Richard Branson, and even banks like J.P. Morgan are invested in the tech behind it.

Just $25 could get you in alongside these billionaires. 

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$2 Biotech Stock

Steve Cohen, the billionaire stock picker known for running one of the most successful hedge funds ever, has poured millions into the first stock, and it’s trading for only $2.

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