A Bull Market Is Coming: 3 Reasons to Buy Tesla Stock Before It Skyrockets
The 2022 bear market has created a great opportunity for investors to scoop up top stocks at a discount, and Tesla (NASDAQ: TSLA) is not an exception. While shares in the legendary electric automaker have risen substantially in 2023, they are still down 49% over the last 12 months. Let's explore why the bull run might just be getting started.
While no single factor can explain Tesla's substantial decline last year, some things stand out. For starters, many investors were unnerved by Elon Musk, whose acquisition of social media company Twitter led him to unload Tesla shares and possibly get distracted from his role as its CEO. Market participants also began to fear that rising competition in the EV industry would crush Tesla's growth and margins.
The good news is that both of these concerns look overblown. Five months into Musk's Twitter acquisition, Tesla has shown no signs of losing its strategic vision. No longer a fragile growth company, it is also less dependent on the guidance of a single individual and has had plenty of time to build a talented management structure aside from Musk. The company also isn't letting competition hold it back.
Source Fool.com
