Tesla, Inc. Stock Hits New High -- Time for a Reality Check

Tesla, Inc. Stock Hits New High -- Time for a Reality Check

Shares of electric-car company Tesla (NASDAQ: TSLA) hit a new high on Monday. During the trading day, shares rose to a new high just under $390. Though the stock is trading closer to $382 at the time of this writing. The stock's gain adds to its bullish run since the company started delivering its Model 3 this summer. And it brings Tesla stock's year-to-date return to 89%.

While Tesla stock's recent rise comes amid some speculation about the company's upcoming products, the longer-term fate of Tesla stock will likely be dependent how well the automaker can ramp up production and deliveries of its vehicles.

Model 3. Image source: Tesla.

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Source: Fool.com