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Tesla Stock Reaches $2,000 Amid Soaring Interest in EV Companies, 5-to-1 Stock Split Announced

posted by martyb on Saturday August 22 2020, @12:35PM   Printer-friendly
from the ev.com-bubble? dept.

Freeman writes:

Tesla stock reaches $2,000 amid soaring interest in EV companies:

Tesla's stock closed at a record high of $2,000 on Thursday, pushing the company's market capitalization to $370 billion. Tesla has been on a weeklong rally since announcing a five-for-one stock split. The split will be distributed to anyone who holds the stock tomorrow—Friday, August 21.

A little more than two months have passed since Tesla's stock first reached $1,000 per share. Last month, Tesla announced a solid second-quarter profit of $104 million. It was the fourth straight quarter of profits.

That could qualify Tesla for inclusion in the S&P 500 stock index. If Tesla wins a slot in the S&P 500, funds that track the index would need to buy Tesla shares. That could push the stock price up even further.

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  • (Score: 2) by looorg on Saturday August 22 2020, @02:50PM (2 children)

    by looorg (578) on Saturday August 22 2020, @02:50PM (#1040393)

    Did you buy bars of actual metal or did you buy a digital paper that says you own a bar of metal? Those would be two very different things. If the apocalypse comes one might have value while the other one just became toilet-paper.

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  • (Score: 0) by Anonymous Coward on Saturday August 22 2020, @03:15PM

    by Anonymous Coward on Saturday August 22 2020, @03:15PM (#1040406)

    Ironically, toilet paper is likely to have more value in that scenario than gold. At least one of those two things has some actual utility. Gold just sits there and stares at you.

  • (Score: 2) by FatPhil on Sunday August 23 2020, @08:24AM

    by FatPhil (863) <{pc-soylent} {at} {asdf.fi}> on Sunday August 23 2020, @08:24AM (#1040714) Homepage
    Actual metal, owned solely by me. Stored in guarded vaults. Insured. British and European governments both agree that the metal is mine (they know about it for tax purposes and money-laundering prevention), and that's good enough for me. So technically, it's just "digital paper", but so is anyting of value that you lock in a guarded vault.

    You've got a car in your garage? If someone steals it, all you're left with is the car keys. Does that mean that you don't actually own the car because all you have in your hands is the keys?
    --
    Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves