Tesla Stock: Smart Move or Risky? 🚗

Early Bird Prime for May 12, 2024

Tesla (Nasdaq: TSLA), the once-beloved stock of the pandemic era, has now become the laughing stock of the market. 

In case you haven't heard, Tesla's stock is down 32.18% in 2024. Meanwhile, the S&P 500 is strutting its stuff with a 10% increase.

This is happening as the demand for electric vehicles (EVs) is plummeting fast. According to Kelley Blue Book, the EV share of total new-vehicle sales in Q1 was a measly 7.3%, which is lower than the previous quarter.

And guess who's feeling the pain? Yep, you guessed it, Tesla. Sales for the electric car giant are suffering, and it's not a pretty sight. CEO Elon Musk has been on a firing spree, laying off more than 10% of staff globally. Other executives are jumping ship like rats fleeing a sinking ship. It's a regular Titanic situation over there.

But there might just be a glimmer of hope for Tesla. Rumor has it that China is considering supporting Tesla's proposal to test its advanced autopilot functions in taxis. 

And if that's not enough to make you scratch your head in confusion, Elon Musk recently announced that Tesla will be spending over $500 million to expand their Supercharger network. You know, the same network they had to lay off people from. Talk about mixed signals.

With its lower stock price, Tesla looks more promising.

Should you buy Tesla stock now, or should you run for the hills and save yourself from the rollercoaster ride? It's a tough call, but here’s the answer:

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