2 Major Catalysts for Tesla Stock Next Year
Tesla (NASDAQ: TSLA) shares have been hammered this year. The stock is down more than 50% year to date. Investors seem worried about the company's potential to continue growing sales so rapidly during a tough macroeconomic environment.
While it's impossible to know which way the stock price will move next year, there are a couple of reasons to believe the stock could attract some positive attention. Two catalysts are on the horizon that could excite investors: soaring sales in the company's energy business and the long-awaited launch of the Cybertruck.
While Tesla's 42% year-over-year growth in vehicle deliveries in the third quarter was impressive, one smaller part of its business was growing meaningfully faster. The company deployed 1,100 megawatt-hours of energy storage, up 62% year over year. This was "by far the highest level" of energy storage deployments the it has ever achieved, Tesla said in its quarterly letter to shareholders. Yet demand for these products, management said, is still trending ahead of supply.
Source Fool.com
