Interesting to see the timeline of the events that have impacted Tesla's stock over the past year. The stock suffered a major decline in 2022 due to a series of events, including Elon Musk's Twitter takeover and the Federal Reserve's aggressive interest rate hikes.
However, the stock has rebounded this year and is up 64% seven weeks into 2023. The rebound is due to a combination of factors such as a steady decline in inflation, a strong quarterly report of record profits, recent price cuts that reignited demand in the Chinese market, and a wider US tax credit for electric vehicles.
Analysts predict a further rally in the stock, with Keith Fitz-Gerald projecting a 48% increase and Dan Levy projecting a 36% upside.