Whilst the main market closed moderately mixed, there was significant strength in Tesla, which settled +6.5% at $347.09. Near term outlook does threaten some cooling, but no lower than $330. With the US capital market still giving Musk a 'free pass', mid term outlook is bullish.
Suffice to add, Q2 EPS of -$1.33 was identical to Q1, although the cash burn is accelerating, as the company is trying to ramp production.
The stock valuation is utterly insane, but as is often the case, so long as earnings are better than expectations - even if its nominally bad, the stock will at least initially rally.
Fundamentally, this is one messed up company. Higher sales will merely see Tesla lose even more money, and that is despite huge govt' subsidies for each vehicle.
Technically, Tesla is super strong. Many recognise the $500s seem viable in 2018, and I can't much disagree.