The news is good but highlights questions about the electric-car maker’s valuation.
Key Points
- Tesla beat analyst expectations with its third-quarter deliveries, defying the chip shortage.
- The company’s production and delivery numbers are also soaring year over year.
- These metrics may contain a glimpse of future performance in a vastly expanded EV market.
Simultaneously, its market cap remains enormous, and alongside its loyal fans, the company has a vast chorus of detractors predicting a stock-price collapse. Do the naysayers have a point, with Tesla living on borrowed time before its share price corrects to a more “realistic” level? Or will its value rise from here?
Both sides have a compelling argument, but the bull case may be stronger overall.
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