From Nasdaq:

Tesla’s stock has plummeted over 30% in 2024, hitting a yearly low. The current economic climate with high inflation and interest rates has impacted consumer spending on cars. Additionally, the EV market is becoming saturated, leading to slower growth projections for 2024 despite a 46% increase in U.S. EV sales in 2023.

Despite its struggles, Tesla remains a strong investment due to its technological advancements. The company’s focus on humanoid robots, self-driving vehicles, robotaxis, and energy storage solutions sets it apart. While short-term growth may be limited, Tesla’s long-term potential remains high, especially with the introduction of a $25,000 next-gen vehicle in 2025.

CEO Elon Musk anticipates a future growth cycle for Tesla driven by innovations in AI, robotics, and more. Tesla’s resilience in the face of economic challenges positions it well for future success. Investors should consider Tesla’s long-term potential and view the current stock price decline as an opportunity to invest for future growth and technological advancements.



Read more at Nasdaq: 1 Magnificent Stock Near 52-Week Lows to Buy Today