Tesla Stock Has Plunged 52%. Can It Rejoin the $1 Trillion Club in 2024?

(NASDAQ: TSLA) stock peaked at more than $400 in 2021, which valued the company north of $1 trillion. But it has since plunged 52% from that high point amid a series of economic headwinds like high inflation and rising interest rates, which have forced consumers to tighten their belts.

The electric vehicle (EV) industry is also slowly maturing, and Tesla is no longer the disruptive start-up it once was; it now sells millions of cars each year, which means it can't grow as quickly as it did in the past. Plus, the company faces competitive threats from new EV companies and legacy automakers all over the world.

Tesla just reported its financial results for the fourth quarter of 2023 (ended Dec. 31), and they fell short of Wall Street's expectations. The company's forward guidance suggests 2024 could be the toughest year in the company's history in terms of growth. So, can Tesla reclaim its former glory and rejoin the $1 trillion club this year?

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Source Fool.com