Tesla (TSLA Stock) turnaround? [Video]
Tesla has some broad issues that are a real challenge for the stock price right now. More and more main car manufacturers are getting their Electric Vehicles to market. On top of this, a recession looms for the US. High US inflation last Friday means that if the US faces a hard landing then demand for high-end EVs is going to be reduced. Tesla’s shares are also trading at a very high price-to-earnings ratio of around 50 times.
The one caveat to these factors is Elon Musk. The man can run multiple companies when many people struggle to run even one! The only problem is this, has Elon Mush bitten off more than he can chew with his purchase of Twitter?
Well, the seasonals are very promising for Tesla, so if there are any upcoming reasons for a stock turnaround then check these seasonals out. Over the last 12 years, Tesla has gained a whopping average of 13% between October 17 and November 28. Will it repeat these gains again?
Major Trade Risks: The major trade risk here is that if the US head into a hard landing and EV demand is reduced.