Description
Added on the 24/11/2020 20:15:15 - Copyright : Wochit
Last year Tesla CEO Elon Musk predicted autonomous driving would boost his company's market capitalization to $500 billion. On Monday, Tesla's market cap soared as high as $498 billion even though Tesla is still refining its self-driving software. Business Insider reports that it has only released a beta version to a limited number of customers. Musk made the claim during an investor call in May 2019, when Tesla's market cap was less than $45 billion, CNBC reported. The Tesla chief projected in 2015 that his company's market cap could balloon to $700 billion by 2025.
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