1 Thing Tesla Bulls Get Wrong, and Why It Might Tank the Stock
Electric vehicle (EV) pioneer Tesla (NASDAQ: TSLA) had a rough 2022. After it grew into one of the world's largest companies in 2021 with a market cap of over $1 trillion, its value fell by more than 50% last year. But the downtrend in the stock has started to reverse rapidly in the first month of 2023. After Tesla reported solid fourth-quarter earnings on Jan. 25 and offered an optimistic outlook, its stock popped more than 20% over the next two trading days.
Shares are now up by about 40% year to date, and the automaker is back to a market cap of more than $500 billion.
Tesla is projecting its EV production will grow yet again in 2023. But that doesn't mean the stock is a buy. Here's what Tesla bulls are missing that could tank the stock in 2023.
Source Fool.com
