(NASDAQ: TSLA) saw incredible demand for its electric cars over the last decade, and that success translated into life-changing returns for shareholders who were fortunate to get in early. A $10,000 investment just a couple of weeks before Tesla launched the Model S in June 2012 would be worth $914,010 today. It would have been worth more than $2.2 million at the stock's all-time high in October 2021.

Tesla has run into some roadblocks this year. Higher interest rates made financing a new car more expensive for customers. The company continues to look for ways to trim manufacturing costs, reduce prices, and sell more cars. Here's why buying Tesla stock in 2024 could still deliver great returns.

Tesla's market cap was less than $3 billion in 2012. Today, its market cap hovers around $550 billion, or 6.5 times the company's trailing-12-month revenue.

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Source Fool.com