Key Points
As of Thursday’s market close, Tesla (NASDAQ: TSLA) is down approximately 21% this year, contrasting sharply with the S&P 500’s 7% increase. The company’s struggles are attributed to negative press and declining quarterly profits, which have put its stock on track for one of the worst performances in years despite favorable market conditions.
Tesla has historically yielded impressive returns, generating around 1,700% over the past decade. However, should its current trend continue, 2023 may see a loss exceeding 20%—the second occurrence in the last ten years.
In the first quarter of this year, Tesla’s automotive revenue declined by 20% year-over-year, alongside a market cap of approximately $1 trillion and a trailing P/E ratio around 180. Analysts suggest holding off on additional purchases until the company shows solid growth and improved profitability.
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