For the first time in quite a while, Tesla (NASDAQ: TSLA) investors have to readjust expectations as macroeconomic headwinds dampen growth prospects in 2024. As CEO Elon Musk put it during the company's fourth-quarter earnings call, as long as interest rates remain elevated, profit margins "won't be that good" for the upcoming year.
So after years of monumental growth, Tesla finds itself in unfavorable territory. With management forecasting that growth will slow in 2024, the stock shed more than 10% in the wake of the earnings report, and remains nearly 50% below its all-time high. Is it time to finally sell the electric vehicle (EV) champion?
Image source: Tesla
Source Fool.com