Shares of Tesla Inc. TSLA,
fell 2.1% in futures trading on Monday, putting them at risk of suffering their first drop in 12 sessions. The stock rose 37.4% amid an 11-day record high that closed Friday at a record $ 880.02. Since inventory last fell on December 22, the electric vehicle manufacturer’s market capitalization has increased by more than $ 227 billion to $ 834.2 million, enough to make Tesla the fifth most valuable US company and CEO, Elon Musk, the richest person in the world. Dan Ives, an analyst at Wedbush, said in a comment to customers that he believes China can see ‘a striking demand’ in 2021 and 2022, with Tesla’s flagship Giga 3 footprint a ‘major competitive advantage’. Tesla’s share has more than doubled in the past three months to Friday (by 102.8%), while the S&P 500 SPX,
achieved 10.0%.
