The reason for tesla's decline lies here.
$Tesla (TSLA.US)$ After reporting a 3% sales increase in the fourth quarter of last year, it recorded a worrying 9% sales decrease in the first 3 months of 2024. From a consumer perspective, rising borrowing costs make purchasing new autos much less affordable. Furthermore, tesla must now deal with tough competition as well-funded EV manufacturers from china make the situation challenging.
Tesla's evaluation. The stock price is currently trading at a high P/E ratio of 46.2, despite a 56% decrease from its all-time high.
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