After dropping 65% in 2022, Tesla stock (NASDAQ:TSLA) saw a sharp rebound in the first quarter of 2023, with the company’s market capitalization increasing by over $200 billion. The electric vehicle (EV) maker’s shares have surged 54% in 2023 so far.

Tesla’s market value rose from $389 billion to $593 billion as of writing, following a disappointing year for its shares in 2022. Thanks to Covid-related headwinds in China and Elon Musk’s turbulent Twitter purchase, TSLA lost almost two-thirds of its value last year. This marked TSLA’s worst annual percentage decline and only its second full-year drop since the company went public in 2010.

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Tesla Value Rises Over $200 Billion Proving The Experts Wrong Again

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