share_log

Tesla 'Is The Only Investable' EV Play, Says Analyst, As Electric Vehicle Industry Navigates A Tough 2023: Year In Review

Benzinga ·  Dec 30, 2023 23:28

Electric vehicle stocks came under significant selling pressure in 2023 as conditions remained inclement for production as well demand. That said, shares of market leaderTesla, Inc.(NASDAQ:TSLA) rode on a strong first-half performance and doubled during the year.

Here are the key themes that dominated EV space during the year:

Tesla Goes Aggressive With Pricing: With the Fed continuing to take interest rate higher, Tesla smelled trouble and opted to go with the strategy of deep price cutting for most of the first-half of the year. The move produced a "sugary high" for the stock, which rallied...

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment