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Elon Musk’s Tesla, once hailed as the vanguard of the electric vehicle revolution, is facing mounting doubts about its ability to sustain growth and maintain its dominance in the increasingly competitive EV market. With its shares down 32 percent since January, the electric vehicle giant is the worst performing stock in the S&P 500 so far this year.that Elon Musk’s Tesla, which once symbolized the future of automaking, is now grappling with questions about its own future.
While most of the Magnificent Seven companies, including Apple, Amazon, Mark Zuckerberg’s Meta, Google, Nvidia, and Microsoft, reported double- or triple-digit earnings growth in the final three months of 2023, Tesla reported a staggering 40 percent decline in profit from the year before.
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