Is Tesla Stock a Buy?

(NASDAQ: TSLA) was once a darling on Wall Street. Shares of the Elon Musk-led company soared 3,130% in the five years leading up to their peak in November 2021. However, the situation hasn't been too kind to investors since then.

Although this "Magnificent Seven" stock is seeing some positive momentum, up more than 40% in the past six months, it remains 40% off its all-time high. Investor sentiment isn't as high as it once was, but it does appear to be improving. Does this make Tesla a smart stock to buy right now?

Tesla thrived when interest rates were low. In 2021, before the Federal Reserve started rapidly raising rates to fight inflation, sales surged 71%. But as borrowing costs rose, buying new electric vehicles (EV) became less affordable for consumers. And Tesla's revenue trends started to weaken.

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Source Fool.com