Tesla (NASDAQ: TSLA) shares seem to be hitting new highs on a weekly basis over the past year. While this is great for shareholders, it creates an ever-evolving dilemma: Are shares worth their swelling price tag?
For a while, my take on Tesla stock was to hold, despite its soaring valuation. Sure, the stock was getting expensive, but the company was executing at an accelerated pace, cash flow was improving, and the future looked bright, I argued. More recently, however, I've shifted my tone to one that is more cautious, urging investors to hold onto some shares but to also consider taking some profits in the case that the company does better than expected.
While my last look at the growth stock was less than a month ago, shares are already up more than 20% since then. Here are my latest thoughts on this Wall Street darling.