March 3, 2025 – Over the past five years, Tesla, the electric car company owned by the world’s richest man Elon Musk, has witnessed phenomenal growth in its share price, with a cumulative increase of 558%. However, the journey has not been without challenges. In February 2025, Tesla’s stock price plummeted by nearly 30%, a decline attributed to several negative news stories surrounding the company and its leader, Musk.
Since the US presidential election in November 2024, Tesla’s shares have been on a downward trajectory. After reaching a closing high of $479.86 in mid-December, the stock has lost almost 40% of its value, erasing most of the gains made after the election.
Despite these setbacks, Musk remains bullish on Tesla’s prospects. Recently, a user shared an analyst’s prediction that Tesla’s profits could rise by 258% over the next five years. Musk, however, went even further, suggesting that Tesla’s profit growth could potentially reach 1000%.
“This will require exceptional execution,” Musk stated, “but I believe it is possible for Tesla to achieve a 1000% increase in profits over the next five years.”
Tesla’s 2024 financial results showed mixed performance, with total revenue reaching 976.9billion,up1770.7 billion, while net profit fell by 53% to $7.091 billion. The gross profit margin also dipped slightly from 18.2% in 2023 to 17.9%.
Musk’s ambitious forecast has undoubtedly boosted market sentiment, but whether Tesla can deliver on this lofty goal depends on its ability to innovate technologically, compete effectively, and expand globally in the coming years.
