Tesla's Stock Journey: Elon Musk Confirms 'Big Swings' But Sees Upward Trajectory

In a post on X (formerly Twitter), Tesla Inc. TSLA CEO Elon Musk reacted to the multinational automotive and clean energy company’s stock performance, which has seen remarkable surges amid occasional fluctuations over the past decade.

What Happened: On Friday, a CTV National News anchor, Jon Erlichman, shared a compilation of the electric vehicle manufacturer’s stock performance from 2010 to 2023, painting a picture of Tesla’s rollercoaster journey. 

According to his post on X, the Musk-led company has displayed notable volatility over the years. Most recently, in 2023, it surged by an impressive 90% following the turbulent 2022 when the company witnessed a sharp decline of 65%. 

The fluctuations appear to have become almost expected in the Tesla narrative. 

See Also: Tesla’s Diner-Supercharger Concept In LA Gets Green Signal 5 Years After Musk First Touted Idea

The tech billionaire acknowledged these “big swings” in a succinct but telling statement, adding, “Ultimately very much upward.” 

Big swings, but ultimately very much upward

— Elon Musk (@elonmusk) August 25, 2023

Earlier this week, in a separate post by Erlichman, who shared a fascinating perspective on Tesla’s revenue milestones, Musk cheekily replied, “Almost like there’s a trend.”

Why It’s Important: Tesla’s revenue surge results from a convergence of factors, such as the broadening range of electric vehicles, a growing appetite for sustainable transport solutions, and strides in autonomous driving technology.

Erlichman, not long ago, highlighted the potential for Tesla to achieve an annual revenue of $100 billion this year, outpacing the revenue growth of numerous large-cap firms.

The stock itself boasts an astonishing narrative since its debut in June 2010, witnessing an incredible ascent of 18,118% over the course of 13 years.

Price Action: Tesla stock closed 3.72% higher on Friday at $238.59 apiece, according to the data from Benzinga Pro.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

Read Next: Tesla’s ‘Biggest Risk’ Right Now? Analyst Says This Could Crash 2023 EPS By Up To 35% Below Estimates

Image: MidJourney and Jonathan Weiss on Shutterstock