Key takeaways
- Tesla’s stock price has rallied 20% since it announced the risky decision to cut the price of its Model Y and Model 3 units
- A strong Q4 performance gave Tesla its most profitable year on record, with 1.8m Tesla units in 2023 predicted to be in production
- It’s good news for controversial CEO Elon Musk, who faces defrauding investor charges and a prolonged Twitter fallout
Electric car enthusiasts and diehard Elon fans everywhere rejoiced as Tesla stock hit a 20% increase last week. The stock has climbed 47% in the last month, marking a turning point since the stock fell around 70% in value last year.
While investors were initially unconvinced at the dramatic announcement, the company’s fortunes could be starting to change. This is good news for CEO Elon Musk, who’s currently in a quagmire of legal drama and his status as ‘Chief Twit’.
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