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Up 300% but can Tesla shares stay in the fast lane
Shares in Tesla accelerated after the electric car maker reported a narrower loss for the second quarter on Wednesday.
Revenue rose to USD 405.1 million from USD 26.6 million a year ago and it says it remains on track to deliver 21,000 cars worldwide this year.
Tesla has been among the hottest stocks in the US this year up around 300 percent, but despite posting its first quarterly profit earlier this year it has yet to make an annual profit.
Saxo Bank’s Peter Garnry says the stock is overvalued but unlike gravity , the share price won't necessarily come down.
01:26 minutes
Tags: auto industry, bmw, car, earnings, electric, elon musk, overvalued, peter garnry, profit, sara walker, saxo bank, saxo tv, share price, stock, tesla, tradingfloor.com, video