I'm of the opinion TSLA still has room to fall another 50%+ from here. Musk's Twitter fiasco, alienation of a good chunk of his core consumer for Tesla, and traditional auto makers offering compelling EV models all make the growth tech stock valuation seem... overly optimistic. Especially with rising cost of capital.
Sure there are competitive advantages for TSLA (namely, luxury/status symbol), but at this point I think the USA and much of the world are not ready for mass EV. Somewhere with a better electrical grid, maybe.
Not to mention the raw inputs required for EVs have become trickier to source since Russia and China produce the vast majority of inputs for EVs... a 2x increase in production is stretching it, much less the 10X-100X required for electrification. Not in the next decade without serious growing pains.