Posted 12/10/2023, 11:34:00 AM
Tesla Stock Soars Despite Profit Pressures and Musk Antics
- Tesla stock soared nearly 100% in 2023 despite declining profit margins and antics from CEO Elon Musk
- Price cuts boosted Tesla's unit sales but hurt earnings; operating income down 22% and margins dropped from over 15% to 7.6%
- Competition like BYD growing quickly and could crowd out Tesla's global expansion
- New vehicles like Cybertruck won't move the needle much on total volumes compared to Model 3/Y
- With P/E of 70, stock prices in high growth for next 5-10 years; may be better investments out there