Is Tesla's Supercharger Network Enough to Buoy a Waning Stock?
Electric vehicle (EV) manufacturer (NASDAQ: TSLA) saw its stock price plunge after announcing its fourth-quarter results on Jan. 24. The share price drop was triggered by the company stating, "In 2024, our vehicle volume growth rate may be notably lower than the growth rate achieved in 2023." Since then, Tesla shares have only declined further as the EV market experiences a slowdown.
But Tesla isn't just an automaker. One of the factors making the company an attractive long-term investment is that Tesla addresses all aspects of vehicle ownership, from the car sale to maintenance and repairs. This scope also encompasses refueling at Tesla's expansive Supercharger network, which acts like gas stations for EVs. This is a revenue source for the company.
But is it enough to buoy Tesla's struggling stock? Let's take a look at the Supercharger network to help answer that question.
Source Fool.com
Tesla Inc Stock
Our community is currently high on Tesla Inc with 56 Buy predictions and 27 Sell predictions.
With a target price of 248 € there is a hugely positive potential of 52.62% for Tesla Inc compared to the current price of 162.5 €.
