Published on December 25, 2024 08:00 AM EST Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our website policy prior to making financial decisions. In a year marked by significant product launches, political drama, and market volatility, Tesla Inc. (NASDAQ: TSLA) emerged as one of 2024’s most compelling corporate stories. The electric vehicle manufacturer saw its stock surge approximately 73% year-to-date, regaining its trillion-dollar market capitalization and cementing its position as one of the world’s most valuable companies. Tesla’s Wild 2024 and Dramatic Rise The company’s stock performance was particularly notable in the latter half of the year, with shares surging roughly 90% following Donald Trump’s election victory in November. This dramatic rise pushed Tesla’s market capitalization to approximately $1.38 trillion, with shares trading around $430 and commanding a price-to-earnings ratio of 118. The rally was partly attributed to expectations that a Trump administration would ease self-driving regulations and accelerate Tesla’s autonomous vehicle initiatives. Tesla’s product portfolio expanded significantly in 2024, marked by the long-awaited release of the Cybertruck in November and the unveiling of two new concept vehicles – the Cybercab robotaxi and Robovan – in October. However, the company also faced challenges, implementing a 10% workforce reduction in April and moving its incorporation from Delaware to Texas in June. A significant setback came in December when a Delaware court rejected CEO Elon Musk’s $56 billion pay package. One of Tesla’s most significant achievements in 2024 was major automakers’ widespread adoption of its North American Charging Standard (NACS), positioning the company to benefit from a new revenue stream in the coming years. While briefly losing its position as the top EV seller to BYD in Q4 2023, Tesla quickly reclaimed the lead in Q1 2024 and celebrated the production of its six millionth vehicle in March.