Why Tesla Could Be the Best "Magnificent Seven" Stock to Own in the Second Half of 2024
The "Magnificent Seven" stocks are some of the best and brightest growth stocks investors can buy. But many of them have amassed some incredible gains over the past year-and-a-half, pushing their valuations to concerning levels for many investors.
Electric vehicle maker Tesla (NASDAQ: TSLA), has, however, been a bit of an underperformer in 2024. Year to date, it's up only 2%, and that would have been much worse if not for a recent rally. But in the latter half of the year, this could make for an underrated investment to hang on to, and it has the potential to be the best of the "Magnificent Seven" stocks to buy right now.
In 2021, Tesla hit a market cap of $1 trillion as it became one of the most valuable stocks in the world. Today, its valuation is around $800 billion. Tesla usually commands a premium, and with a reduced price tag, there could be a lot more upside for the stock in the second half of the year.
Source Fool.com
Tesla Inc Stock
Our community is currently high on Tesla Inc with 70 Buy predictions and 28 Sell predictions.
With a target price of 249 € there is a slightly positive potential of 13.36% for Tesla Inc compared to the current price of 219.65 €.
