Tesla (TSLA) stock was not spared amid the latest round of Omicron variant-induced, market-wide selling pressure. Shares of Elon Musk's EV giant are now down around 10% from their all-time highs, just north of the $1,200 mark. Despite the correction, Tesla stock is still up over 58% over the past year and around 40% year-to-date. Trading at over 24 times sales, Tesla is one hot momentum stock that could be vulnerable to a vicious and unforgiving reversal. Indeed, Elon Musk has been taking some profits off the table, and he's right to do so, as the valuation continued climbing to new heights.
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Tesla (NASDAQ:TSLA)
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Tesla (NASDAQ:TSLA)
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From Jan 2021 to Jan 2022 Click Here for more Tesla Charts.