Should You Buy Tesla While It's Below $200?
After strong growth in both the company and its stock last year, (NASDAQ: TSLA) has gotten off to a rough start in 2024. The stock doubled in 2023, but has tumbled by 25% in just the first six weeks of the new year.
There are multiple reasons why investors have been selling Tesla shares recently. Because of that drop, though, the stock was recently at its lowest level since last spring. It now makes sense to look at what sent Tesla stock falling below $200 per share, and whether this is a good opportunity for investors to buy it.
Tesla hit its electric vehicle (EV) production target in 2023, resulting in 35% growth over 2022. Most of the 1.8 million EVs delivered by Tesla were the Model Y SUV -- the best-selling vehicle of any kind globally last year. But there were signs of slowing growth in overall EV demand as the year progressed.
Source Fool.com
Tesla Inc Stock
Currently there is a rather positive sentiment for Tesla Inc with 56 Buy predictions and 27 Sell predictions.
As a result the target price of 248 € shows a very positive potential of 55.16% compared to the current price of 159.84 € for Tesla Inc.
