Down More Than 30% Off Its Highs, Is Now the Time to Consider Tesla Stock?

In just five years, Tesla (NASDAQ: TSLA) went from being written off by Wall Street to becoming its darling. Over that period, Tesla shares soared from about $40 to an all-time high of $900 in January -- a twentyfold gain that's outpaced the likes of Amazon, Apple, and Alphabet.

But since then, Tesla has shed nearly over a third of its market value. The stock is seeing downward pressure as traders rotate from high-growth tech bets and into reopening plays such as banks. And a recent slew of negative headlines regarding Tesla's sales in China and vehicle recalls hasn't helped, either.

Investors who missed the boat last year -- when Tesla rallied over 700% -- may be wondering if it's time to buy the dip. Let's run over the bull and bear cases for Tesla before deciding whether to buy.

Source Fool.com