Is Tesla Stock a Buy?
(NASDAQ: TSLA) has had a tough go of it lately. While other "Magnificent Seven" stocks have had a banner year thus far, its stock has been in steady decline, falling roughly 30%. Compare that to Microsoft's 13% gain or Nvidia's monster 80% rise so far in 2024, and it's clear something is off for the electric vehicle (EV) pioneer.
Why has Tesla been struggling? The automaker is facing a cooling domestic market and stiffening competition across the Pacific.
At home, although EV sales are up from last year, growth is slower than many had hoped. In an attempt to boost sales, auto manufacturers across the board have slashed prices, with the average EV sticker price down 10.8%.
Source Fool.com
Tesla Inc Stock
€284.45
1.470%
Currently there is a rather positive sentiment for Tesla Inc with 105 Buy predictions and 38 Sell predictions.
As a result the target price of 410 € shows a positive potential of 44.14% compared to the current price of 284.45 € for Tesla Inc.
