Down 24%, Is Tesla Stock a Smart Buy Right Now?
Electric vehicles (EVs) are cheaper to operate, cheaper to maintain, and more eco-friendly. Those benefits look even better when paired with tax credits, a tactic taken by a growing list of governments in an effort to cut carbon emissions. Not surprisingly, the industry is growing quickly, and EV sales are expected to accelerate to 6.4 million units in 2021, up 98% over the prior year.
Few companies have benefited from that trend as much as Tesla (NASDAQ: TSLA). Over the last three years, the stock has produced an annualized return of 137%, and Tesla briefly crossed the trillion-dollar market cap threshold in October. But recent market volatility has knocked 24% of the share price.
So is now a good time to buy Tesla stock? Let's dive in.
Source Fool.com
