Why I'm Avoiding Tesla Stock Right Now
All eyes in the automotive community were focused on the Tesla (NASDAQ: TSLA) investor relations page this weekend. The disruptive manufacturer of electric vehicles (EVs) released its quarterly production and deliveries update, which gives investors and industry analysts the chance to track how much the company grew in the prior quarter.
As it has done for many years now, Tesla reported growing deliveries to customers, up approximately 36% year over year. However, this came well short of CEO Elon Musk's stated goal of 50% year-over-year growth, even as the company implemented multiple cost cuts to start 2023.
Despite this delivery growth, I wouldn't get near Tesla stock as an investor right now. Here's why.
Source Fool.com
