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Tesla Motors, Inc.: A First-Quarter 2014 Review

) growth story continues to accelerate in 2014, though there have been many twists and turns in the road. The abundance of news that comes out about the electric-vehicle maker can make it challenging to keep up to date. So a summary of the notable events involving Tesla during the first quarter of 2014 might prove handy.

First, a word about Tesla’s stock: It’s up 41% since the start of 2014, and has gained 460% in the past year. While there’s no doubt that the stock is “overvalued” using conventional valuation measures — its forward P/E is 54.7, for instance — it’s also true that nearly all turbocharged growth stocks are overvalued while in their early high-growth phases.

Growth accelerates with release of Q4 earnings and 2014 guidance
In February, Tesla announced fourth-quarter 2013 results that crushed analysts’ estimates, and provided better-than-expected 2014 guidance. The company’s adjusted earnings were $0.33 per share, handily topping the $0.21 consensus, while its revenue rose nearly 150% from the year-ago period to $761 million, also beating the $677 million analysts had expected.

Tesla met its gross margi…


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