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Tribune News Service

Tesla’s stock cracked the US$500 mark for the first time Monday as the electric vehicle maker continues a meteoric rise.
The Palo Alto, California-based company’s shares closed up 9.8 per cent at US$524.86. The stock was trading below US$400 in December and below US$300 in October.
Strong sales in the fourth quarter and the beginning of production at Tesla’s new China factory have given investors renewed confidence in the company’s prospects.
The stock’s recent performance amounts to “an eye-popping rally,” as investors are betting that CEO Elon Musk has the company on track for massive growth, Wedbush Securities stock analyst Dan Ives wrote Friday in a note to investors.


“The table has turned quickly for Musk as a few quarters ago the company was facing red ink, demand issues were lingering in the US, and the management turnover was seeing a major perceived talent drain,” Ives said.
Ives said Tesla “has the most impressive product road map out of any technology/auto vendor around.”
The Model 3 car has also become one of the bestselling passenger cars of any kind in America. While Tesla does not provide a breakdown of sales by country, the company sold nearly 159,000 in the US last year, according to estimates by InsideEVs, which tracks electric car sales.
China’s EV stocks hitch a ride with Tesla into investors portfolios
Despite the company’s recent success, some analysts remain sceptical.
Barclays analyst Brian Johnson said last week that he believes the stock’s proper value is only US$200.

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Tesla

Tesla stock hits US$500 amid new China factory, strong sales

Tesla China-made Model 3 vehicles are seen at its factory in Shanghai, China on January 7. Photo: Reuters

China’s battery makers, car part producers hitch a ride on Tesla’s Shanghai-made electric cars to the top of investor portfolios

Tesla vehicles coming off an assembly line at its Gigafactory in Shanghai, on January 7, 2020. Photo: Xinhua via AP

How Tesla's lithium-ion battery works separator provides a barrier between anode and cathode electrodes, and enables the exchange of lithium ions from one side to the other During discharge, lithium compound and vice versa during charging Source: HowStaffWorks

Tesla's stock market value zooms past General Motors’ and Ford’s combined market caps for first time

Tesla’s stock has more than doubled in the past three months. File photo: AP

(190107) -- SHANGHAI, Jan. 7, 2019 (Xinhua) -- Tesla CEO Elon Musk (C) attends the groundbreaking ceremony of Tesla Shanghai Gigafactory in Shanghai, east China, Jan. 7, 2019. U.S. electric carmaker Tesla Inc. on Monday broke ground on its Shanghai factory, becoming the first to benefit from a new policy allowing foreign carmakers to set up wholly-owned subsidiaries in China. The new plant, Tesla's first outside the United States, is located in Lingang Area, a high-end manufacturing park in the southeast harbor of Shanghai. It is designed with an annual capacity of 500,000 electric cars. Tesla signed the agreement with the Shanghai municipal government in July 2018 to build the factory. In October, the company was approved to use an 864,885-square-meter tract of land in Lingang for its Shanghai plant. (Xinhua/Ding Ting)

Elon Musk launches Tesla SUV programme in China with ‘NSFW’ dad dance

Tesla CEO Elon Musk dancing onstage during a delivery event for Tesla China-made Model 3 cars in Shanghai, China January 7, 2020. Photo: Reuters

Elon Musk heads to Shanghai for first deliveries of made-in-China Teslas to public

Tesla CEO Elon Musk attends the groundbreaking ceremony of Tesla Shanghai Gigafactory in Shanghai, east China on January 7, 2019. File photo: Xinhua

A Tesla Inc. Model 3 vehicle set to be delivered to a company employee moves off an assembly line during a ceremony at the company's Gigafactory in Shanghai, China, on Monday, Dec. 30, 2019. Tesla delivered its first China-built cars today, a milestone for Elon Musk's company as it accelerates a push in the world's largest electric-vehicle market. Photographer: Qilai Shen/Bloomberg

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Strong sales in the fourth quarter and the beginning of production at Tesla’s new China factory give investors renewed confidence in the company



Strong sales in the fourth quarter and the beginning of production at Tesla’s new China factory give investors renewed confidence in the company.
