We called it…
Tesla will find its way back to the top.
CHART OF THE DAY: World’s Best Sellers in 2023 EVs
Here are two things you need to know about Tesla:
- Tesla’s (Nasdaq: TSLA) profits weakened in the third quarter (Q3) last year.
Its shares dipped 19% on the news. And yet, the stock was still up 67% at the time.
- Tesla models earned the top two slots in EV sales for 2023.
Now, those may sound like conflicting pieces of information. Is Tesla (TSLA) a sleeper stock or a comeback player for the year?
The numbers don’t lie.
Despite Tesla’s weak Q3, its Model Y still beat out every other popular model for top EV last year — and by a large margin (772,364 sales).
Chinese models (such as from BYD) were runners up … but there’s no denying that Tesla still has a stronghold in this market.
📈 Market Edge: Don’t Sleep on EVs, or Tesla (TSLA)
Even if you’re not a fan of these vehicles as a product, there’s a clear investment opportunity here.
This market has been steadily gaining momentum for the past few years.
In fact, EV sales accounted for 18% of global vehicle sales in 2023 alone. Goldman Sachs also projects EVs to be over “half of global car sales by 2025.”
…61% to be exact.
Amber Lancaster predicted Tesla’s return to the top back in November, when its shares plummeted 19%.
She told you that the new tax credit available for eligible EV buyers and that Tesla’s forecasted 2023 sales would be the main catalysts for the EV company’s recovery.
How to Invest:
If you want to invest in the technology that’s propelling the EV industry forward, Ian King’s latest report in “AI Energy” includes three of his stock picks.
One of them represents the “fuel” behind EV batteries: lithium ion.
Another represents the “brain” behind the machine: microchips.
Go here to find out more about these companies, and how you can get access to their stock names and tickers (plus Ian’s full report).
Happy Sunday!
