Yahoo Finance I Got Rich Off Tesla: Here Are 4 Companies You Should Invest In Now
Alex Adekola is a finance and data analyst, author, writer, speaker and entrepreneur who has spent more than two decades leveraging the online revolution for business success. He started in web development in early 2002, an endeavor that culminated in the launch of Incept Design in 2008, which he later rebranded as Incept Technologies.
Adekola has since established himself as an authority in online content removal and the mitigation of negative digital information. He caters specifically to C-suite executives and professionals in crisis management situations.
His book, “Control Your Search,” outlines his philosophies and strategies for online information management and reputation protection.
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He made good money from the book and from his entrepreneurial endeavors, but his true wealth rose with the fortunes of another company that emerged as a global game changer the same year that Adekola founded Incept Design. Tesla — founded in 2003 just one year after Adekola started his career — unveiled the first Roadster in 2008, giving the world a glimpse into its battery-powered automotive future.
Adekola didn’t get in on the company’s stock that year, but he got in early enough to get rich. Here are details on his Tesla investment and other stocks that could be the next big thing.
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A $35,000 Investment Makes a Web Entrepreneur a Millionaire
Tesla’s price history looks much different today than what Adekola described because the company’s stock split twice. The first was a 5-for-1 split on August 31, 2020, which reduced the price per share from $2,200 to about $440. Almost exactly two years later on August 25, 2022, a 3-for-1 split lowered the cost of Tesla from $900 to $300 per share.
“In my case, I initially purchased 1,000 shares of Tesla stock in early 2013 at an average price of $35 per share,” Adekola said. “I held on to these shares through the company’s growth and stock split, ultimately selling a portion of my position — 4,000 shares post-split — in late 2021 at an average price of $1,100 per share. This investment yielded a return of over $4.3 million.”
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The Next Tesla Is Waiting To Make You Rich
Adekola said he sees many similarities between today’s investing climate and the one he entered when Tesla was trading at $35 per share — and he sees a Tesla-esque future in four stocks, in particular.
“Looking at the current market, I see potential in companies that are innovating in sectors such as electric vehicles, renewable energy and artificial intelligence,” he said.
Here are his recommendations for investors looking for the next big thing.
Lucid Group (LCID)
At the end of 2021, Lucid — which makes high-end electric vehicles (EVs) boasting ranges over 500 miles — was trading at over $55. Today, it’s available for a deep discount at under $3.50.
Adekola said he thinks now is the time to buy.
“An emerging player in the luxury EV market, Lucid has impressive technology and a focus on high-performance vehicles,” he said.
Nio (NIO)
The Biden administration responded to the soaring growth of China’s burgeoning EV market by increasing the tariff on imported Chinese EVs from 25% to 100%, which makes them unaffordable to buy — but investors can still get shares at face value from companies leading the charge.
“Nio is a Chinese EV manufacturer that has shown strong growth and is expanding its presence in the global market,” Adekola said.
Enphase Energy (ENPH)
Adekola’s next pick doesn’t make EVs, but it’s riding the same clean energy wave to industry dominance.
“A leader in microinverter technology for solar energy systems, Enphase is well positioned to benefit from the growing adoption of renewable energy,” he said.
Nvidia (NVDA)
Anyone who follows the stock market knows the name Nvidia, a company whose stock vaulted by nearly 2,500% in the last five years — and Adekola thinks it still has plenty of room to run.
“Known for its graphics processing units (GPUs), Nvidia is also a key player in the AI and autonomous vehicle markets,” he said.
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Everyone interested in EVs or the technologies that advance their rise in the global auto market should consider Adekola’s recommendations — but they certainly shouldn’t take them as gospel.
“These companies share some common traits with Tesla, such as a focus on innovation, disruptive technology and strong growth potential,” he said. “However, it’s important to remember that past performance does not guarantee future results, and investing in individual stocks carries inherent risks. As a successful investor who made significant profits from Tesla shares, I can offer some insights into potential investment opportunities, but please remember that every investor’s situation is unique, and it’s crucial to conduct your own research and consult with a financial advisor before making any investment decisions.”
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