TSLA - Why Tesla Stock Slumped 20% in the First Half of 2024 but Has Bounced Back Since
2024-07-16 12:08:17 ET
After steep decline in 2022 and a stunning 102% rally in 2023, Tesla (NASDAQ: TSLA) stock lost ground again in the first half of 2024, falling by 20.4%, according to data provided by S&P Global Market Intelligence .
Will the rest of 2024 look any different for the electric vehicle (EV) stock? It may -- the stock has already recovered all of its losses from the first half and is now trading just barely in the green year to date. Here's all you need to know about Tesla's first half and what's fueled the stock's ongoing rally.
Investor enthusiasm for Tesla stock started to fade in January as demand growth for electric cars slowed globally. Tesla repeately trimmed the prices of its vehicles to spur sales as inventory piled up, and its first-quarter numbers left much to be desired.
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Why Tesla Stock Slumped 20% in the First Half of 2024, but Has Bounced Back Since