10 Debt Free Halal Stocks to Invest in Right Now

8. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 126 

Market Cap as of March 27: $878.52 billion 

Enterprise Value as of March 27: $852.15 billion  

Tesla, Inc. (NASDAQ:TSLA) operates as a business that creates markets and then produces solar products while manufacturing battery energy storage systems and electric cars, along with their related services. The company builds five consumer vehicles, including the Model 3, as well as the Y, S, X, and Cybertruck models. It operates primarily as a technology firm, with EV production as a secondary focus due to its significant contributions to electric vehicle technology, autonomous systems, and artificial intelligence.

The stock price of Tesla, Inc. (NASDAQ:TSLA) has experienced a maximum 50 percent drop since the U.S. President took office on January 20. CEO Elon Musk’s increased involvement with the Department of Government Efficiency (DOGE) has led investors to believe that his focus on the company has been affected, contributing to significant share price declines this fall. Cold market conditions, along with a decline in product demand, continue to push the stock price lower.

A March 21 research report from Morgan Stanley analyst Adam Jonas revealed revised estimates, as he reduced Tesla, Inc. (NASDAQ:TSLA)’s price objective from $430 to $410. However, his outlook for the corporation remains unchanged at Overweight. He stated that automobile delivery projections for 2024, which fell below expectations, do not impact the potential returns on investment. Tesla, Inc. (NASDAQ:TSLA), often highlighted among the best halal stocks, is currently navigating a slowdown due to its transition from a traditional automobile manufacturer to a broader AI and robotics company.