Tesla Stock Slumps Nearly 30% in 2023 on Growth Uncertainty Despite Bold Ambitions

• Tesla stock has fallen 29% year-to-date and 57% from its all-time high in November 2021 • Tesla showed vulnerability in 2023 as an automaker susceptible to macroeconomic and industry pressures • Forward P/E ratio of 55 suggests Tesla is still priced like a high-growth story stock • Hopes for full self-driving capabilities and Optimus humanoid robot fuel bull case • But uncertainty remains around fulfillment of ambitious long-term goals, stock not a buy at current valuations