The Ultimate Electric Vehicle Stock to Buy With $1,000 Right Now

Tesla (NASDAQ: TSLA) investors have had a lot to think about this year. Increasing competition wasn't unexpected, but a notable slowdown in electric vehicle (EV) demand has surprised many industry players and followers. The EV leader finally did report growing vehicle sales once again in the third quarter.There were almost 463,000 deliveries in Q3, up by 6.4% versus last year, but the company will still be hard pressed to beat 2023 EV sales this year. CEO Elon Musk had told investors he expected to average about 50% annual growth for several more years. So now investors are left to ponder how Tesla will grow into the stock's high valuation. This week's robotaxi event gave investors a clue as to what Musk has in mind.Tesla has never been just about cars. The EV business has been its profit engine, of course. However, investors have valued the company well beyond what those EV profits have commanded. A recent price-to-earnings ratio above 60 indicates that investors see value well beyond its current business. Now, as mentioned, EV sales growth has even stagnated or at least slowed.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool