Tesla TSLA stock seems to be on an endless rally to the moon. Today’s 7% jump was catalyzed by better than expect vehicle deliver figures for Q2.
Tesla delivered an astonishing 90,650 cars over the past 3 months. This figure blew analysts’ delivery expectations (72,000 vehicles) out of the water. Tesla is now the most valuable car company in the world by market cap surpassing Toyota TM.
Optimistic investors are betting on Tesla taking over the automotive world, but this enterprise still has a long way to go.
Tesla just sold its 1 millionth car in March, which is less than 10% of what Toyota sells annually. The world’s largest automakers are not going to sit idle while some Silicon Valley startup upends their industry.
I expect that competition will surge in the years to come and Tesla’s valuation will be tested.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
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