Tesla Inc (TSLA · NASDAQ)

Tesla shares rose 4.7% to $370.59 after reporting third-quarter deliveries of 486,532 vehicles, beating consensus by 5% and marking its second-highest quarterly total despite a year-over-year decline tied to the expiry of U.S. federal EV tax credits. The beat comes against a stretched fundamental backdrop: the stock trades at a P/E of 334 and EV/EBITDA of 122.54, while operating margin sits at just 1.4% and free cash flow was negative $1.09B last quarter as capex ($5.79B) exceeded operating cash flow ($4.70B). Revenue grew 25.5% YoY to $103.62B TTM, though earnings fell 3.0%, and the company remains lightly levered with $15.22B cash against $9.34B total debt. The shares sit 24.4% below their 52-week high and 5.7% below the 200-day moving average, with the analyst target at $395.57.