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Mohit Oberoi

TSLA Stock Forecast: Will Tesla Keep Going Up in 2024?

Tesla Inc. Elon Musk Daniel Ives Ark Invest

July has been a good month for Tesla (TSLA), and it gained 27% in the first week alone - despite the holiday-shortened schedule. After the stellar rally, the electric vehicle (EV) giant – which, for some time, was the worst-performing S&P 500 Index ($SPX) stock of 2024 – has now turned positive for the year.

While TSLA is still the worst-performing “Magnificent 7” stock this year, it has rebounded spectacularly from its lows, and added $200 billion to its market cap. Will Tesla stock keep going up in 2024? We’ll discuss in this article, beginning with the recent price action.

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