Tesla's stock is on a crazy ride, with a stunning rebound from 2022's freefall. Here's a timeline of the drama that drove it, from Elon Musk's Twitter gamble to aggressive price cuts
Just seven weeks into 2023, it has already surged 64% and several analysts arein the EV maker's shares. Veteran Wall Street trader Keith Fitz-Gerald sees the stock gaining a further 48% while Barclays's Dan Levy projects a 36% upside.
Thanks to the dramatic swings in investor sentiment, the past 12 months or so possibly marked the most turbulent phase on record for one of the high-profile names in the equity market. The EV maker's market capitalization, which hit a record high of over $1.2 trillion in late 2021, plunged to a low of $341 billion in December 2022, before surging back above $600 billion as of this week.
received the green light to produce 500,000 vehicles per year and employ 12,000 workers. Its launch sent shares in the electric-vehicle manufacturer surging nearly 8% followed by a rally till month-end.April 2022: Musk's $44 billion Twitter deal. The takeover plan sent Tesla shares plunging by more than 12% to wipe out $126 billion in value in just one day, as investors feared the billionaire CEO may sell some of his stock in the EV maker to finance the buyout.
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