's (NASDAQ: TSLA) recent quarterly production and delivery update showed the business keeps motoring along. The company produced nearly 480,000 EVs in the second quarter, and deliveries rocketed 83% higher year over year.
That's leading to boosts in analyst share price targets, as well as earnings estimates. But Tesla stock has more than doubled year to date and is higher by nearly 50% over the past three months. Investors might be wondering whether that combination of things means Tesla stock should be bought, sold, or just held at this stage. Here are some more things to consider when making that call.
Tesla shares have never moved based on traditional valuation metrics. Yet the strength in its earnings over the past year combined with a correction in the stock price brought its price-to-earnings (P/E) ratio down to the mid-20s at the beginning of this year. But the rebound in the market -- and Tesla stock in particular -- has brought the share price back to nosebleed levels.
Source Fool.com