Shares of Tesla (TSLA) are starting to really heat up again, now up more than 20% over the past month. Fuelling the bounce was Tesla's impressive second-quarter beat and the relief rally experienced by the broader tech sector. Though the 57% earnings pop was impressive, the valuation remains incredibly stretched. Further, investors may underestimate the potential for a steep slide as the world economy tilts into a recession. Not to take away from the incredible efforts of Elon Musk and company, but 12.1 times sales is just too high a price for an automaker that faces a wave of hungry rivals over the coming decade.
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Tesla (NASDAQ:TSLA)
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