Love it or hate it, there's no doubt that Tesla (NASDAQ: TSLA) has had a memorable 2023 on Wall Street.

Shares of the EV maker have nearly doubled this year, up 94% through Dec. 6 even as its business performance disappointed as price cuts in the EV industry led to slowing sales growth and lower profits. That trend is expected to continue at least through the fourth quarter and is likely to impact the stock in 2024.

While the electric vehicle market has been challenging, Tesla shares have been buoyed this year by hopes for its artificial intelligence (AI) initiatives. The company has been developing full self-driving technology for years, and it's also building an autonomous robot, Optimus. Tesla is also expected to eventually build a fleet of robotaxis, specially designed driverless vehicles for a ride-hailing service.

Continue reading

Source Fool.com