Shares of Tesla Inc. they were approaching $ 900 on the way to another record close on Friday, extending their winning run to the unprecedented 11th trading day.
Tesla TSLA,
shares rose 7.3% to an intraday high of $ 875.38. Shares have risen 36% in their 11 earnings sessions, the longest winning streak on record.
The increase in shares also boosted Tesla’s market capitalization to $ 824 billion, making Tesla the fifth largest U.S. company by market capitalization. Tesla’s market valuation surpassed Facebook Inc.’s FB,
Thursday. Tesla has added more than $ 105 billion in market value this week alone.
Earlier on Friday, Evercore ISI analysts upgraded their stock rating to the equivalent of hold, sell, saying they have been “on the considerably wrong side of (Tesla) for more than a year.” , they said in a note.
His neutral stance now coincides with the ratings of 15 of the 37 analysts covering Tesla and polled by FactSet. Of these, 12 have a buy rating on the stock and 10 have a sell rating.
For five years, we have seen (Tesla) as a “growth + premium car”, “an” attractive “company that manufactures premium electric vehicles that would grow for a long time and sell x number of vehicles in x eventual years. … But it was still an automobile company, “they said.
Related: Tesla and other electric vehicle manufacturers report record sales, sending stocks to new highs
“Actually (retrospective and streamlining, never anticipated), we believe that technology investors and retailers consider (Tesla) two separate technology companies,” one that is a market leader in electric vehicles and another that offers driverless vehicle technology. with fixed solar energy storage technologies, battery and drive train and others.
In addition, Tesla is “in the best position” to take advantage of any positive initiative from the new Biden administration and a “blue” Senate, according to Evercore ISI analysts.
Shares of several clean energy companies and related companies also met on Friday, with US deposit receipts from China-based electric vehicle manufacturer Nio Inc. NIO,
and shares of alternative energy company Bloom Energy Corp. BE,
among the best winners.
Tesla shares have gained 796% in the last twelve months, compared to gains of about 17% in the S&P 500 index. SPX,
Tesla was added to the benchmark index last month. Sha