The bears have been out for Tesla (NASDAQ:TSLA) recently with concerns around soft demand and rising competition ever-present.
But if those arguments sound familiar, well, that’s because they are. Looking back to the early months of 2023, Wedbush analyst Daniel Ives, a 5-star-rated analyst ranking in the top 2% of Wall Street’s stock experts, reminds us that the prevailing bearish narrative for Tesla at the outset of the year revolved around the belief that “demand was eroding and competition was increasing across the board.”
“Instead,” says Ives, “Musk made a poker move for the ages and cut prices globally with China front and center to catalyze volumes/units which should now impressively be in the 1.8 million range for 2023.”
Reaching those volumes, however, has come at a cost, with the company’s margin profile taking a hit. But while heading into 2024, this remains a “key hot button issue” for…
