Shares of Tesla Inc. they approached $ 900 on the way to another record on Friday, extending their winning run to the 11th day of unprecedented trading.
Tesla TSLA,
shares rose up 7.3% to reach an intraday high of $ 875.38. Shares rose 36% from the 11 earnings sessions, the longest winning streak.
Stock market growth also pushed Tesla’s market capitalization to $ 824 billion, making Tesla the fifth largest company in the United States by market capitalization. Tesla’s market rating outperformed Facebook Inc.’s FB,
on Thursday. Tesla added more than $ 105 billion in market value this week alone.
Earlier on Friday, analysts at Evercore ISI upgraded their share rating to the holding equivalent of the sale, saying they were “on the considerably wrong side of (Tesla) more than a year ago,” they said in a note. .
Their neutral position now matches the ratings of 15 of the 37 analysts covering Tesla and surveyed by FactSet. Of these, 12 have a buy rating on stock and 10 have a sell rating.
For five years, I considered (Tesla) a “growth + premium car”, an “attractive” company of premium electric vehicle manufacturers that would grow for a very long time and sell x vehicle numbers in x possibly year by year… .but it was still a car company “, they said.
Related: Tesla and other electric vehicle manufacturers report record sales, sending stocks to new highs
“In reality (retrospective and rationalization, never predicted), we believe that technology / retail investors consider (Tesla) as two separate technology companies”, one that is a market leader in electric vehicles and another that offers technology for driverless vehicles, stationary solar energy storage technologies, battery and powertrain and others.
Moreover, Tesla is “in the best position” to capitalize on any positive initiatives from the new Biden administration and a “blue” Senate, Evercore ISI analysts said.
Stocks of several clean energy and related companies also gathered on Friday with U.S. storage receipts from Chinese electric vehicle maker Nio Inc. NIO,
and shares of alternative energy company Bloom Energy Corp. BE,
among the first winners.
Tesla shares have gained 796% in the last 12 months, compared to gains of about 17% for the S&P 500 index. SPX,
Tesla was added to the benchmark last month. Sha