GM - Tesla: It's Not 2023 Anymore
2024-03-18 10:37:03 ET
Summary
- Tesla, Inc. stock has experienced a 60% devaluation since reaching an all-time high in November 2021, even after the stock doubled in price in 2023.
- Downward revisions in earnings forecasts and concerns about EV adoption rates have contributed to the decline as have the rash of challenges in the EV space.
- After a boom year for Tesla stockholders in 2023, the equity is down by a third in 2024 and is the biggest loser in the S&P 500 year to date.
- Can the company and Tesla stock rebound? An analysis follows in the paragraphs below.
The shareholders of Tesla, Inc. ( TSLA ) had a banner year in 2023 in which the stock roughly doubled over the year. TSLA was a proud member of the "Magnificent Seven" that provided approximately two-thirds of the gains in the S&P 500 in 2023....
Tesla: It's Not 2023 Anymore