Should You Forget Tesla Stock Near a 52-Week Low?
The EV maker's latest bounce-back could prove fleeting, but don't assume it shatters the long-term bull case.
Overview
After hitting a new 52-week low late last month, Tesla (NASDAQ: TSLA) has embarked on a rebound, with the stock surging from just less than $300 per share to around $325 per share. Yet while investor sentiment has shifted back from bearish to bullish, it's questionable how long said shift will last.
For one, this bounce-back may have had more to do with excitement surrounding the first earnings release from Space Exploration Technologies (NASDAQ: SPCX), aka SpaceX, Elon Musk's other trillion-dollar company. Also, while investors may be moving on from Tesla's poorly received July earnings release, turbulence may soon return, though it's not necessarily a warning sign for long-term investors.
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Originally published at www.fool.com.