Tesla Stock Surged 695% in 2020. Is It a Buy for 2021?

Tesla's (NASDAQ: TSLA) stock is up an incredible 695% in 2020, making it one of the most valuable companies in the world with a $630 billion valuation. Investors have bought in to Elon Musk's product lineup, growth narrative, self-driving technology, and manufacturing expansion plans. Still, there are questions facing the stock going into 2021. 

By any traditional measure, Tesla's valuation seems crazy. The company is valued at 24 times sales and the price-to-earnings ratio is 1,332, despite generating hundreds of millions in regulatory credit sales that aren't core operations. So is the stock going to keep rising, or is the valuation more than investors should bite off right now? 

Image source: Tesla.

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Source Fool.com