Should You Sell Tesla? I Sold 1 Other Winner Too Early. Here’s What I Learned.
Shares of electric vehicle (EV) titan Tesla (NASDAQ: TSLA) are enjoying a surge in October. The company reported third-quarter vehicle delivery numbers ahead of Wall Street’s estimates on Oct. 2, creating anticipation for promising earnings when the company announces Q3 results on Oct. 21. The stock closed at $382.70 on Oct. 9, up nearly 8% from the end of September.
However, shares are still down about 13% during the past 12 months. Given the October bump, is now the time to sell Tesla stock?
I advise against it. I sold shares in another company after they experienced a spike back in 2021, and I regret it. That stock was Meta Platforms (NASDAQ: META), and it’s a cautionary tale about the importance of adhering to a key Motley Fool investing philosophy: Let your winners keep winning.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.