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Tesla stock (NASDAQ: TSLA) price today is down 3.50% from yesterday's close of $932.57 per share. This is up 23.32% YTD, with a 52-week range between $539.49 and $1,243.49. The stock price slid following Elon Musk's claim of paying over $11 billion in taxes this year. Other factors include a delay in Biden's Build Back Better EV tax credits and overall uncertainty around Tesla's new vehicle releases. The Cybertruck and Roadster face an increasingly competitive market.
What exactly is Tesla?
Tesla is a leader in electric car manufacturing and technology for the future of transportation. With sleek, innovative design and state-of-the-art technology, Tesla is driving the automotive industry towards a more electrified world.
Tesla stock faces stiff competition
Tesla is one of the most talked about stocks in the market, but is it the best EV stock to buy? Though Tesla has certainly sparked the interest of consumers, it still competes against a sea of legacy car companies trying to get in on the EV action.
Ford Motor Co. (NYSE: F), General Motors Co. (NYSE: GM), Toyota Motor Corp. (NYSE: TM), Fiat-Chrysler Automobiles (NYSE: FCAU), and many other companies abroad will release EV models over the next five years. Not to mention other breakout automobile companies like NIO (NYSE: NIO) and Rivian (NASDAQ: RIVN), which just announced a new $5 billion electric vehicle factory in Georgia.
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