Tesla’s Third-Quarter Deliveries Beat Expectations. Time to Buy the Stock?
It’s been a pretty challenging year for Tesla (NASDAQ:TSLA). The company’s shares are down 16% as of writing, partly due to a mixed performance in its electric vehicle (EV) business. However, Tesla recently reported great news on that front: The company’s third-quarter EV deliveries came in well ahead of Wall Street estimates. Tesla’s shares climbed on the news. Should you jump on the bandwagon and invest in the company right now?
Image source: The Motley Fool.
Several developments have had a positive impact on Tesla’s EV business this year. For instance, geopolitical tensions have led to rising energy prices, boosting demand for EVs. Tesla’s second-quarter deliveries grew 25% year over year to 480,126 — its largest year-over-year growth rate in about two years — likely partly due to higher oil prices.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.