The past couple of years have been a rollercoaster thrill ride for (NASDAQ: TSLA) investors. After surging to a new all-time high in late 2021, the stock went on to crater more than 70%. Factors driving some of the steep drops included outsized inflation, rising interest rates to help fight inflation, and a sizeable stock market slump focused largely on tech growth stocks. And yet, Tesla stock is ascending in 2023, up 90% so far this year.

While a general stock market rebound and a more bullish attitude on Wall Street this year were no doubt contributing factors, a number of company-specific developments have thrust the electric vehicle maker back into the spotlight. The biggest of these is the mad dash by a growing number of automakers to join the Tesla Supercharger Network and adopt its North American Charging Standard (NACS) connector, which is quickly becoming the de facto industry standard.

One Wall Street analyst believes this will add billions in annual revenue to Tesla's coffers.

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Source Fool.com