Tesla Stock Could Soar 550% to $5 Trillion After Notching Its Worst Day Since 2020, According to a Wall Street Expert
On March 10, Tesla (NASDAQ: TSLA) stock declined 15% in its worst trading session since 2020. Shares have now declined 51% from the record high reached in December, representing over $700 billion in lost market value.Company-specific factors contributing to that drawdown include disappointing sales data and concerns about CEO Elon Musk becoming an increasingly political figure. Beyond those reasons, nervousness about how the Trump administration's trade policy will impact the economy has also contributed to the decline.Despite those threats, billionaire hedge fund manager Ron Baron recently reiterated his belief that Tesla will be a $5 trillion company within a decade. That now implies 550% upside from its current market value of $764 billion. Here's what investors need to know.Continue reading
On March 10, Tesla (NASDAQ: TSLA) stock declined 15% in its worst trading session since 2020. Shares have now declined 51% from the record high reached in December, representing over $700 billion in lost market value.
Company-specific factors contributing to that drawdown include disappointing sales data and concerns about CEO Elon Musk becoming an increasingly political figure. Beyond those reasons, nervousness about how the Trump administration's trade policy will impact the economy has also contributed to the decline.
Despite those threats, billionaire hedge fund manager Ron Baron recently reiterated his belief that Tesla will be a $5 trillion company within a decade. That now implies 550% upside from its current market value of $764 billion. Here's what investors need to know.
