It hasn't been a fun ride for shareholders of (NASDAQ: TSLA) recently. The stock is down 31% in 2024 (as of this writing). That seriously lags the 7% gain of the Nasdaq Composite Index.
The pessimism has been propelled by disappointing production figures. In the first quarter this year, Tesla unit deliveries fell 8.5% year over year to 387,000. This was substantially less than what analysts were hoping for from the top producer of electric vehicles (EVs).
Should investors buy this leading EV stock while it's currently 58% below its all-time high? Let's consider both the bull and bear arguments for Tesla.
Source Fool.com