Tesla Inc. its share approached $ 900 on Friday on its way to another record, extending its winning streak to an unprecedented eleventh trading day.
Tesla TSLA,
The stock rose 7.3% to hit an intraday high of $ 875.38. The stock is 36% higher than its 11 profit sessions, the longest winning streak recorded.
The share increase also raised Tesla’s market capitalization to $ 824 billion, making Tesla the fifth largest US company by market capitalization. Tesla’s market valuation surpasses Facebook Inc. see FB,
on Thursday. Tesla added more than $ 105 billion to market value this week alone.
Earlier Friday, analysts at Evercore ISI improved their rating on the stock to the equivalent of owning, selling, saying that they have been on the significantly wrong side of (Tesla) for more than a year now, they have in a note said.
Their neutral stance now agrees with the ratings of 15 out of the 37 analysts Tesla discusses and was interviewed by FactSet. Of these, 12 have a buy rating on the stock and 10 have a sell rating.
For five years’ we’ve seen (Tesla) as a ‘growth + premium car’, ‘an’ attractive ‘premium EV manufacturing company that’ will grow for a very long time and sell x number of vehicles in x final year …. but still a car business, ‘they said.
Related: Tesla and other EV manufacturers report record sales and send shares to new highs
“In fact (afterthought and rationalization, never predicted), we believe that technology / retail investors (Tesla) consider two separate technology companies,” one that is a market leader in electric vehicles and another that offers driverless automotive technology, which solar power stands still. storage, battery and propulsion technologies and others.
In addition, Tesla is ‘in the best position’ to take advantage of climate benefits from the new Biden government and a ‘blue’ Senate, Evercore ISI analysts said.
Supplies from several clean energy and related companies also met Friday, with U.S. depository receipts from China-based electric vehicle maker Nio Inc. NIO,
and shares of alternative energy company Bloom Energy Corp. BE,
among the top winners.
Shares in Tesla have risen 796% over the past 12 months, compared to the 17% rise for the S&P 500 index. SPX,
Tesla was added to the benchmark index last month.