Tesla Inc. (NASDAQ: TSLA) shows a strong growth potential driven by its innovation and diversification, according to 24/7 Wall St. The stock price recently increased by 5.0% compared to a week ago, trading near its all-time high ahead of a shareholder vote on CEO Elon Musk’s unprecedented $1 trillion pay package.
Over the past six months, Tesla shares rose 64.9%, outperforming the S&P 500 index. In the last year, the stock surged 83.8%, attracting investors to the leading electric vehicle (EV) maker. Since its June 29, 2010 IPO, Tesla’s stock price has skyrocketed by almost 29,000%, starting at $17 per share, roughly equivalent to $1 per share after stock splits.
Investors focus more on Tesla’s future performance over the coming years rather than past gains. Although many Wall Street analysts provide 12-month forward estimates, unpredictable events can affect short-term forecasts. This review offers a longer-term perspective based on Tesla’s financial data and market trends to aid ongoing research.
Despite challenging market conditions and high-interest rates, Tesla has consistently increased its earnings and revenue. Notably, Tesla’s Model S was the top-selling plug-in electric car in both 2015 and 2016.
"Tesla Inc.’s (NASDAQ: TSLA) share price is 5.0% higher than a week ago and trading near an all-time high, ahead of a shareholder vote on CEO Elon Musk’s record-breaking $1 trillion pay package."
"Tesla stock has gained 83.8% over the past year, so plenty of investors are still drawn to the EV market leader, which has experienced a meteoric rise that has resulted in a gain of almost 29,000% since the company’s initial public offering on June 29, 2010."
Author's summary: Tesla’s stock has demonstrated remarkable long-term growth and remains positioned for further gains, supported by strong innovation, sales performance, and resilience amid economic challenges.