Should You Buy Tesla Stock Before Oct. 23? Here's What History Suggests
- by AOL
- Oct 19, 2024
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1. Updates on the lower-cost vehicle model;
2. News surrounding the Robotaxi and autonomous driving in general; Data source: Ycharts.
Clearly, Tesla shareholders have been disappointed by the stock's results over the last few years. Macroeconomic forces such as lingering inflation and a high interest rate environment took a toll on the company's growth. However, the economy is showing signs of resiliency: Inflation has cooled to below 3%, the Federal Reserve is tapering interest rates, and the labor market remains fairly strong. I think these factors should bode well for Tesla in the near term.
In the long run, however, there's something much more important to note. Tesla stock has been a bona fide multibagger over the long term.
So, the question remains: Should you buy Tesla stock before its next earnings report? In my opinion, it doesn't really matter. There's a good chance the stock will see greater volatility as it has in prior earnings periods, but the more crucial point to remember is that attempting to time the market is a usually a losing proposition.
If you are a believer in Tesla's AI vision and feel the company is making the right moves to remain a leader in the auto industry, the stock could be worth adding to your portfolio, no matter where in the earnings calendar we are.
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