Tesla Inc. (NASDAQ: TSLA) stock is a seesaw. It hit $235 in late 2020 but dropped to $193 in April 2021. It jumped to $407 at the end of that year, then slid to $113 in early 2023. The share price took another run to $281 in July last year. It has jumped up and down since then and now trades near $187. That’s a decline of 24% since January 2.
The most recent sell-off could be due to several reasons. For certain, one is fourth-quarter revenue and the forecast for 2024. Revenue rose only 3% from the fourth quarter the year before to $25.2 billion. Per-share earnings fell 40% to $0.71. Tesla management said 2024 would be slow and investors should expect slow growth. This was a comedown from 2023, when unit sales rose 35% to 1.81 million.
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