Lately, Tesla stock resembles a rocket ship. Elon Musk’s car manufacturer reported 90,650 vehicle deliveries in the second quarter, which easily topped analyst expectations. In the second quarter of 2019, with the stock price around $225, Tesla reported more than 95,000 vehicle deliveries. Traditionally, a business would have to show underlying growth to merit a nearly sixfold stock price rally in a year. Recall that there have been two waves of selling since the fall of 2018, with the stock price falling by around 50% each time.

Source: Wall Street Journal July 02, 2020 14:48 UTC