Shulou(Shulou.com)11/24 Report--

According to foreign media reports on March 30, Tesla's share price rebounded sharply in the first quarter of 2023 after plummeting 65% in 2022.

Tesla's share price plummeted in 2022 because of rising prices for Tesla cars, delays in the launch of some products, and fears that Tesla Chief Executive Officer (CEO) Elon Musk would be distracted by buying Twitter. For the whole of last year, the stock tumbled 65 per cent, the biggest annual decline since it went public in 2010.

Tesla's share price soared 50 per cent in less than a month in 2023 after the collapse in 2022, as massive price cuts in early January helped the company's share price rebound.

In addition, Tesla's strong financial results for the fourth quarter of 2022 also boosted the company's share price. At the time, the company reported record fourth-quarter revenue and net profit that exceeded market expectations and said it could produce 2 million cars in 2023.

As of Wednesday's close, the company's shares were up 2.48% at $193.88, giving the company a market capitalization of $613.456 billion. Tesla's share price has risen 54 per cent so far this year.

Tesla's upward momentum may be due to increased optimism about the economy and the market, as well as factors such as price cuts and positive demand prospects. In addition, there has been less drama about Musk's acquisition of Twitter.

In early March this year, it was reported that the popularity of Tesla shares among US retail investors has continued to "burst" since the beginning of the year in 2023. Retail investors snapped up Tesla shares at a frenzied speed, setting new daily purchases many times.

In recent months, Tesla has launched price cuts in major markets such as China, the United States, Europe, Canada, Australia and New Zealand. After the price cut, the company's demand for cars increased greatly. Tesla CEO Musk revealed that Tesla received more than twice the order volume in January this year.

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