Key Points
- Tesla’s market capitalization has soared past $1 trillion.
- The company posted strong sales growth in the third quarter.
- Tesla’s progress in full self-driving could be vital in its long-term growth.
In October, Tesla’s stock price rose above the $1,000 mark and its market capitalization zoomed past $1 trillion. It’s a situation that likely had many Tesla investors rejoicing about the rise and many of those investors who have so far missed the bus wondering if it is now too late for them to benefit from this high-flying stock.
Let’s discuss if buying Tesla stock at this point still makes long-term sense or not.
Tesla’s stock price soars
A lot of traditional market watchers find Tesla’s valuation bewildering. At $1 trillion, the stock’s market capitalization exceeds the combined valuation of the next half-dozen or so top auto stocks. In fact, it is more than 1.5 times the combined market capitalization of the next five automakers.
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