"Nothing can bring down Tesla Inc. ( NASDAQ: TSLA) stock. Not the bad behavior of CEO Elon Musk nor safety problems with its self-driving technology. Not a lack of new models, or the failure of Cybertruck sales. Tesla's sales in Europe collapsed last year, and it lost substantial ground to rival BYD in the region. Its stock is up 36% in the past six months, while the market is only 9% higher."
"Based on its market cap of $1.43 trillion, Tesla is the world's 10th most valuable company. A bet on Tesla is a bet that it will succeed in the self-driving car space, which means cars in which drivers have nothing to do. The early versions of these are robotaxis. While Tesla is testing these, it is commonly believed that Alphabet's Waymo has a head start."
Tesla experienced a 27% drop in registrations across the EU, UK, Iceland, Liechtenstein, Norway, and Switzerland to 238,656 last year, while BYD's registrations rose 267% to 187,657. Reuters reported U.S. Tesla sales fell to nearly a four-year low in November, with deliveries declining for the first time amid high borrowing costs and rising competition, especially in Europe and China. Legacy automakers and Chinese EV makers are taking market share, with legacy brands reaching about 20% in the U.S. Tesla's stock climbed 36% in six months despite slipping sales, reflecting investor bets on its self-driving and robotaxi prospects.
Read at 24/7 Wall St.
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