Over the trailing decade, no S&P 500 company has delivered a juicier return for its shareholders than electric vehicle (EV) manufacturer Tesla (NASDAQ: TSLA). Investors who've placed their faith in the company and its CEO, Elon Musk, have been rewarded with a return of just above 7,000% in a decade.

But even top-performing stocks hit rough patches. When the closing bell rang on Dec. 12, 2022, shares of North America's leading EV company were lower by 52% year to date.

The $64,000 question is: Does a more than halving in value make Tesla a buy? To answer that, you have to understand why shares fell in the first place, as well as dig into what catalysts and challenges lie ahead.

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Source Fool.com