Tesla doubters scored their best vindication yet last year. The electric carmaker’s market value dropped by almost two-thirds in what was the worst, and only the second ever, annual loss for the former stock market darling since it listed in 2010. But fourth-quarter earnings figures have added fuel to a tentative resurgence in the share price. Since January the group has regained 35 per cent, and just over 20 per cent in value was added in the two trading sessions after the latest results were released last week. Has Tesla reached an inflection point? Don’t bank on it.
The buyout of the social media giant Twitter by Elon Musk, the Tesla boss, has superseded the enduring debate over whether the electric vehicle group can
