The Tesla (NASDAQ: TSLA) share price has fallen significantly in recent months. Last week, it closed at $590. That’s about 34% below its all-time high of $900, set in January. We need to put this drop in perspective though. Over the last year, Tesla stock is still up about 275%.
Has Tesla’s recent share price weakness provided a buying opportunity for me? Let’s take a look at the stock.
Tesla continues to advance
Tesla’s Q1 2021 results showed the company is continuing to advance. For the period, total deliveries came in at 184,887 vehicles, up 109% year-on-year. Revenue came in at $10.4bn, up 74% year-on-year. This growth is encouraging.
Meanwhile, Tesla continues to make progress in the self-driving space. Last week, CEO Elon Musk tweeted that he expects Tesla to release an improved version of its full self-driving technology within the next two-to-three weeks.
It’s worth noting that ARK Invest … Read more