There was a time when Elon Musk, he of Tesla (NasdaqGM: TSLA) and SolarCity (NasdaqGM: SCTY) fame, could do no wrong.
In the eyes of some, Musk was seen as the second coming of the late Steve Jobs because of his involvement in companies behind two of this year’s best-performing. Tesla and SolarCity are still two of 2013’s highest fliers and in a testament to just how strong those stocks have been, they still rank among the year’s best even with November charts that look like this:
Tesla’s tumble in particular could have proven to be onerous for some ETFs, namely the Market Vectors Global Alternative Energy ETF (NYSEArca: GEX) and the First Trust NASDAQ Clean Edge Green Energy Index Fund (NasdaqGS: QCLN). On October 4, GEX and QCLN were up 64.6% and 69.3%, respectively, for the year. [Tesla Fire Could Burn These ETFs]