Consecutive rise, Tesla’s stock price breaks $ 400, market value exceeds $ 73 billion

Netease Technology News on December 20, according to foreign media reports, on Thursday, local time in the United States, electric vehicle maker Tesla’s stock price surged to more than 400 US dollars, closing at a record high. Tesla’s stock rebounded at the end of October starting in October, when the company unexpectedly announced earnings and surprised investors.

At the close on Thursday, Tesla’s stock rose 2.77% to close at $ 404.04, and once rose to $ 406.85 during the session. This broke the stock’s closing record set on Wednesday, when the stock rose 3.7% to close at $ 393.15. The previous closing record was set in September 2017, when it closed at $ 385 per share.

So far in 2019, Tesla’s stock price has increased by 21%, while the S & P 500 and Dow Jones Industrial Average prices have risen by 28% and 22%, respectively. Tesla has a market value of more than $ 73 billion, surpassing General Motors and Ford Motor Company, with the latter two having a market value of $ 53 billion and $ 37 billion, respectively.

Bill Selesky, an analyst at market research firm Argus Research, said that some investors believe that Tesla’s profit margin in the Chinese market may be higher than the company’s average profit margin of 25%.

Credit Suisse’s positive report released this week may also be a boost. Analyst Dan Levy said after visiting Tesla’s “super factory” in Nevada that he and other automakers Compared with other manufacturers, Tesla’s batteries have obvious advantages.

Earlier this week, Oppenheimer analysts also said that Tesla’s production increase in China could be “smooth.”

Tesla released an unexpected earnings report in October, which kicked off the company’s stock price at the end of the year. The stock rose 31% in October.

Tesla just released its electric pickup, the Cybertruck, and its CEO, Elon Musk, said it has received about 250,000 orders, each of which includes a $ 100 refundable deposit.

Tesla is expected to announce deliveries for the fourth quarter of 2019 in early January 2020, and may release fourth-quarter earnings in February.

Analysts surveyed by FactSet expect the company’s adjusted earnings per share to be approximately $ 1.30 and sales to be $ 6.7 billion. By comparison, the company’s sales for the same period last year were $ 7.2 billion and adjusted earnings per share were $ 1.93

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