Shares of Elon Musk's EV and green energy firm Tesla (TSLA) have not gotten off to the best start to the new year, with TSLA stock now sitting down just under 1% year-to-date. This looks worse when you consider that TSLA stock is now sitting at about $1,050 after closing near $1,200 on the first trading day of the year. With concerns over the coming interest rate hikes, it's not a surprise to see one of the highest-flying tech stocks of 2020 reversing course so sharply. In 2022, competition in the EV space is slated to intensify.
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