Elon Musk’s SpaceX, Tesla and xAI may merge
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Initially, when electric-car maker Tesla ( TSLA 3.45%) released its fourth-quarter results, the stock popped. But shortly after the market opened on Thursday, the stock's return for the day turned negative. This has added to the stock's weakness in recent weeks. As of this writing, the stock is down more than 11% over the past month.
Due to Tesla's innovation and diversification, 24/7 Wall St. sees strong upside potential for the stock by the end of the decade.
It’s this uncertainty that’s hurting Tesla stock today. The scepticism isn’t just about what the money is being spent on, but the sheer velocity of the burn. Doubling the capex budget to $20 billion in a single year is a high-stakes gamble that UBS analysts believe pronounces the overall risk profile of Tesla shares.
Tesla shares aren't cheap, but the stock is worth a look by investors aiming to potentially compound $500.
Tesla stock is all about AI lately, including AI-trained self-driving cabs.