Why Tesla Stock Surged 102% in 2023
Elon Musk's electric vehicle (EV) company had a phenomenal year. Despite volatility, (NASDAQ: TSLA) stock doubled investors' money in 2023 as it surged 101.7%, according to data provided by S&P Global Market Intelligence.
It wasn't an easy year to begin with, though. Competition was already on the rise when soaring inflation and interest rates began to hit demand. Tesla made a bold move: It slashed prices of its cars multiple times, and steeply, over several months.
The move triggered a price war in the industry and hit Tesla's margins, leading many to question CEO Elon Musk's rationale. Musk, however, was willing to forego margins in the short term for higher volumes and insisted that Tesla is committed to delivering over the long term. It was a calculated move, as Tesla exited the year with strong growth in deliveries despite all the hiccups. In between a much-awaited launch of its Cybertruck helped boost investor sentiment in Tesla stock. Expectations from Tesla are already running high for 2024.
Source Fool.com
Tesla Inc Aktie
Leichtes Buy-Interesse bei Tesla Inc, mit mehr Buy- als Sell-Einschätzungen.
Das Community-Kursziel von 245 € für Tesla Inc deutet auf ein leicht positives Wachstumspotenzial gegenüber 204.2 € hin.
