Tesla Stock Is Soaring. Time to Buy?
Tesla (NASDAQ: TSLA) is serving up investors quite the rebound. After the electric-car maker's stock fell 65% last year, shares seem to have found a floor more recently. The stock has climbed 30% year to date. Part of this move higher was driven by the company's fourth-quarter earnings report, which highlighted Tesla's recent financial momentum and management's optimistic expectations for this year.
The stock's sharp rise in 2023 likely has many investors looking closely at the stock. Is Wall Street's growing appetite for Tesla shares a sign of more good things to come, or does the stock's big move higher mean investors who didn't buy the stock when it bottomed earlier this year missed out?
Tesla stock's performance last year didn't reflect its business performance over that time. The company's record-breaking 2022 features huge growth in vehicle deliveries, revenue, and earnings, even as Tesla grappled with rising interest rates, global supply and logistics constraints, a temporary factory closure in China, and intensifying competition.
Source Fool.com
