Although institutional investors hold sway now, both long and short, I suspect that Tesla is changing retail investing patterns in a meaningful way, both for new MS/MX/M3 buyers, but also for tech-aware/forward-thinking types (I am in the latter category - I don’t own a Tesla).
Prior to Tesla, all of my investments were in index funds and managed funds. That money is all still there. However, because of my enthusiasm regarding Tesla, I have put money in the market that would not otherwise have been invested at all, to the tune of 400 shares of TSLA. Based on my enthusiasm for the company, I now have three family members who also have small positions in TSLA who had not previously invested in individual stocks. If my situation is playing out in other family/friend settings (ie new money that would not otherwise have been in the market), then retail investment in TSLA will play an ever-growing role.
My family members and friends have invested based upon my enthusiasm, but are held back from larger positions primarily because they perceive Tesla as having difficulty executing. They are all aware of the backlog of 400K pre-orders, and wonder if potential Tesla customers will turn to the other EVs scheduled to hit the market in the next two years (I am aware of the flaws in this line of thought, and do not share this concern, but it is prevalent).
My thesis is that what matters is not Q4 production or delivery numbers we will get this week, but rather a quarterly report that announces where the company is in relation to the bottlenecks. I think that there is a potential groundswell of investment from relatively unsophisticated small investors such as myself. The concerns I hear center on “how quickly can Tesla meet those pre-orders.” Solving the bottlenecks and unleashing the anticipated new level of manufacturing automation at the Gigafactory and at Fremont will be the point at which the tide changes. For that type of audience, the Q4 production/delivery numbers are not going to be decisive enough to change concerns.
In summary, I think the quarterly report is what many people are waiting for.