A decade later and a $5,800 flyer in an upstart electric-car company would have turned a savvy or lucky investor into a millionaire. Or, in Brandon Smith’s case, an initial investment of $10,000 in 2017 along with some small additional purchases along the way did the trick.
Smith, who doesn’t even own a Tesla vehicle, is one of countless fans who have pledge their undying devotion to Elon Musk and, to this point, have been rewarded handsomely for it.
“I don’t make six figures, and I don’t know anything about puts and options,” Smith told Bloomberg News in a recent interview. “I’ve just bought and held the entire time. I’ve never sold a single share.”
$5,800 invested a decade ago is now worth $1 million now. Perhaps even more amazing is that $127,600 just a year ago has also reached that sum, as Tesla has ridden five straight quarters of profits and plenty of hype to new heights.