Sina American Stock Market News Beijing time January 14 newsTeslaShares hit the $500 mark for the first time on Monday, and the company's trading history shows that the rally can continue.
Tesla, Inc. 's share price rally began in October last year, when Wall Street was overjoyed by the company's turnaround. Tesla, Inc. 's share price has doubled in the past three months, surging nearly 40 per cent in the past month alone.
Media analysis of Kensho data, a hedge fund trading tool, shows that Tesla, Inc. shares usually perform well after two weeks of similar volatility, rising another 2.4 per cent on average. In the past five years, in these eight similar trading scenarios, Tesla, Inc. 's stock has risen 88%, outperforming the S & P 500.
Tesla, Inc. 's recent rise has brought the company's market capitalization to about 90 billion US dollars.General Motors CoAnd Ford's total market capitalization is nearly $5 billion higher.
Shares were boosted by good news such as Tesla, Inc. 's entry into the Chinese market and fourth-quarter delivery data released earlier this month, and Oppenheimer on Monday pushed Wall Street's bullish view of Tesla, Inc. to new heights, raising its target price to more than $600from $385a.
"We believe that the company's risk tolerance, ability to learn from past mistakes and greater ambitions than its peers are beginning to pose an existential threat to companies that are unable or unwilling to innovate faster," said Colin Rusch, an analyst at Oppenheimer.