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Added on the 23/11/2020 17:09:42 - Copyright : Wochit
Tesla may be the new kid on the block in the auto industry, but it's quickly become a big kid on Wall Street. The electric-car maker's shares continued to climb more than 4% on Tuesday. This increases the company's total market value above $500 billion for the first time. The milestone comes on the heels of a banner year for Tesla's stock, says CNN. Tesla recently upgraded facility now has the capacity to build 500,000 Model Y and Model 3 sedans a year. This is in addition to 90,000 of its more expensive Model S and Model X vehicles.
Tesla short-sellers saw $38 billion in mark-to-market losses throughout 2020, Bloomberg reported Thursday, citing S3 Partners data. Short interest in the company's shares plunged to less than 6% of Tesla's float from nearly 20% at the start of last year. The losses trounce the $2.9 billion total seen in 2019 and come on the back of Tesla's 740% surge over the past 12 months. Investors betting against Tesla lost billions last year, as the automaker's shares leaped above nearly all estimates.
JPMorgan released a note about the stock market in 2021. JPMorgan said the stock market is primed to surge in 2021. 2021 is when key risks like the US election and COVID-19 pandemic will begin to subside. "The equity market has one of the best setups for sustained gains in year," JPMorgan said. According to Business Insider, JPMorgan's note said they expected the S&P 500 to surge 26% to 4,500 by the end of 2021.
Business Insider reports that Elon Musk is $8 billion away from surpassing Bill Gates as the world's second-richest person. This week Musk's wealth has continued to climb. Musks networth hit $114 billion after Tesla was added to the S&P 500 index, edging out Facebook CEO Mark Zuckerberg. It's gained another $10.2 billion after Tesla shares spiked 10% on Wednesday, according to Bloomberg.
Madrid, Apr 21 (EFECOM).- The Ibex 35, the main index of the Spanish Stock Market, has risen on Wednesday by 0.71% and has recovered the level of 8,500 points thanks to the momentum provided, in the final section of the session, by the upward turn of Dow Jones. FOOTAGE OF SPAIN'S STOCK MARKET, IN MADRID
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