Tesla Stock Is Down More Than 30% This Year. Time to Buy?
Ouch. Shares of electric-car maker (NASDAQ: TSLA) were slammed earlier this week, falling nearly 5% on Tuesday. Wall Street sold off shares after the company reported worse-than-expected first-quarter deliveries.
With the stock down more than 30% this year and over 20% over the last three years, it's been a rough run for Tesla shareholders. After the company dramatically underperformed the S 500's gain of more than 29% over the last three years, is it time to get greedy when others are fearful and buy the dip in Tesla stock? Or is its poor performance a sign of underlying problems worth staying away from?
In Tesla's fourth-quarter update in late January, management said it expected its vehicle volume growth in 2024 to be "notably lower" than it was in 2023. This forecast, as conservative as it sounded at the time, has unfortunately proven to be overly optimistic so far. Tesla's first-quarter vehicle production and delivery volumes didn't even grow. Indeed, they both fell sequentially and year over year.
Source Fool.com
Tesla Inc Stock
Our community is currently high on Tesla Inc with 76 Buy predictions and 27 Sell predictions.
With a target price of 247 € there is a positive potential of 27.5% for Tesla Inc compared to the current price of 193.72 €.
