Tesla stock's sizzling rally won't last as old-guard rivals like Ford and GM pile into the EV space, analyst says
."It's a great company, they played a huge role in transforming transportation, but you've got 100 new EVs coming to market."
Tesla's stock has soared 109% in 2023, on track for the biggest six-month gain since 2020. The shares have benefited from both Even the AI trade, which has helped mega-cap tech stocks stage a massive rally in 2023, is unlikely to keep Tesla's stock price at its current level, according to the analyst – because the EV maker's much-vaunted self-driving technology is still years from actually juicing up its earnings.
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