"Shares of Tesla Inc. (NASDAQ:TSLA) lost 6.36% over the past five trading sessions after losing 1.93% the five prior. A rally that began in early summer has finally pushed the stock into the green on the year with a gain of 8.38%, but the market's recent sell-off has affected TSLA since late October. Since hitting its all-time high on Dec. 17, 2024, the stock has fallen more than 14%."
"Tesla's stock has gone through vicious crashes before. And while the stock may not be ready to shift gears from reverse to forward, I do think that a worsening of its latest drawdown could prove a significant buying opportunity, given the chance its drivers could pay off at some point over the medium term. Undoubtedly, the bears may be winning the tug-of-war on the stock now,"
Tesla's shares have shown recent volatility, rising year-to-date but sliding more than 14% from the Dec. 17, 2024 high. Q3 revenue rose 12% year-over-year to $28.1 billion, but earnings of $0.50 per share missed estimates and quarterly net income fell 37% to $1.37 billion. The stock's drawdown could present a buying opportunity if key drivers materialize, yet bears currently exert pressure amid fading hype around Elon Musk and mounting EV competition, including a Jeff Bezos-backed startup. Wall Street perspectives remain mixed with distinct bull, bear, and base scenarios for the company.
Read at 24/7 Wall St.
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