Last month, excitement about its stock splits, and the expansion of U.S. electric vehicle (EV) tax credits, was enough to get investors fully charged up about Tesla (NASDAQ:TSLA) stock.
But so far this month, a cooldown in excitement has played out. External factors like interest rates, inflation and the risk of a recession are keeping shares in the EV maker rangebound. This may carry on in the near term.
This doesn’t mean you should take a hard pass on Tesla. While it may not make another big leap immediately, shares stand to do so down the road.
Macro worries notwithstanding, the rapid adoption of EVs point to continued strong prospects ahead for this company, and for the stock. Let’s dive in, and find out why.
This post appeared first on InvestorPlace.