It's Down Almost 40% Year to Date -- Should Investors Buy Tesla Stock?
After joining the $1 trillion market capitalization club at the end of 2021, shares of electric vehicle (EV) juggernaut Tesla (NASDAQ: TSLA) have shifted into reverse. Between macroeconomic headwinds like 40-year-high inflation, the Fed's consequent move to raise interest rates, and concerns about the war between Russia and Ukraine, the stock market has been in quite the frenzy.
Many high-growth stocks, Tesla included, have been humbled lately as investors seek protection by shifting their attention to value companies and safer assets. CEO Elon Musk's move to potentially acquire Twitter (NYSE: TWTR) certainly hasn't aided the company's case, either. With uncertainty around whether or not the deal will actually close, investors have raced to dump shares of the EV leader.
But in terms of fundamentals, Tesla continues to look dominant. The company is rapidly expanding its business on all fronts and has strengthened its balance sheet and cash generation in the process. With the stock down almost 40% year to date, should investors pull the trigger on buying Tesla today?
Source Fool.com
