Tesla announces plans to launch semi-truck in 2026 with improvements, but stock faces challenges.

From Nasdaq: 2024-05-24 01:40:42

Tesla (NASDAQ:TSLA) stock surged by nearly 7% after announcing new details about its semi-truck production. The truck, set for delivery by 2026, boasts a 500-mile range, higher power, and better efficiency but at a price double that of diesel trucks. Stricter emission rules could aid Tesla’s Semi truck adoption.

Despite a recent 20% decline in TSLA stock, it continues to outperform the S&P 500 over longer periods. Tesla could face challenges this year with lower deliveries and earnings growth, intensified by competition from Chinese EV players. Trefis values Tesla at $177 per share, slightly below the current market price.

Tesla’s return in May 2024 was 2%, falling behind the S&P 500 at 6%. However, the company has shown impressive growth since 2017, with cumulative total returns of 1210%. Consider investing in Trefis’ Market-Beating Portfolios for better returns based on historical performance data.

Invest with Trefis to access Market-Beating Portfolios and reliable Price Estimates for informed investment decisions. The author’s views and opinions do not necessarily reflect those of Nasdaq, Inc.



Read more at Nasdaq: Tesla Semi Is On Track For A 2026 Launch. Will It Help Tesla’s Underperforming Stock?