Posted 3/11/2024, 8:33:00 AM
Tesla Stock Slumps Amid Slowing Growth and Rising Competition, But Still Seen as an Ambitious Story Stock
- Tesla stock is down 29% year-to-date and 57% from its all-time high in November 2021
- Tesla had monster 47% annual revenue growth from 2017-2022 but slowed in 2023 due to economic headwinds
- Competition is set to intensify in coming years, pressuring Tesla's margins
- Tesla still trades like a "story stock" based on future hopes like full self-driving and Optimus robot
- With steep valuation, author doesn't think Tesla makes for a smart buy right now
