Investors who have been betting against Tesla Inc. are finally seeing the payoff they have been hoping for, as the electric-vehicle company is set to experience its worst annual performance in its history.

Stocks in Asia rose after China announced that it will end its quarantine for inbound travelers on January 8.

Tesla's stock is currently trading at 46.7 times its earnings over the past year, a significant decrease from the 1,765 times earnings it reached in January 2021, as reported by FactSet.