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

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: 1, Interesting) by Anonymous Coward on Saturday August 22 2020, @03:12PM (6 children)

    by Anonymous Coward on Saturday August 22 2020, @03:12PM (#1040404)

    One of the details that people forget about is that even if you bought gold at it's lowest point and sold at it's highest point, the result is still a fraction of what buying an index fund for the same period would have netted. Plus, if you're buying metal for the apocolypse, other metals would be far more useful, gold is nice in that it is resistant to chemical processes, but it also makes it largely worthless for anything other than it's coloration and shininess. On top of that, the few uses it has chemically are limited greatly by it's relative rarity. The end result is a metal that sucks as an investment.

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  • (Score: 1) by anubi on Saturday August 22 2020, @06:50PM (3 children)

    by anubi (2828) on Saturday August 22 2020, @06:50PM (#1040493) Journal

    Neodymium?

    Now that is valued by what it's used for.

    --
    "Prove all things; hold fast that which is good." [KJV: I Thessalonians 5:21]
    • (Score: 0) by Anonymous Coward on Saturday August 22 2020, @07:48PM (1 child)

      by Anonymous Coward on Saturday August 22 2020, @07:48PM (#1040502)

      Ah, like for when spending 20k per speaker isn't a completely ridiculous idea.

      • (Score: 1) by anubi on Sunday August 23 2020, @08:49AM

        by anubi (2828) on Sunday August 23 2020, @08:49AM (#1040723) Journal

        I was thinking more down the line of the electromechanics for wind turbines, electric cars, modern appliances, planes, etc.

        --
        "Prove all things; hold fast that which is good." [KJV: I Thessalonians 5:21]
    • (Score: 5, Interesting) by JoeMerchant on Saturday August 22 2020, @08:59PM

      by JoeMerchant (3937) on Saturday August 22 2020, @08:59PM (#1040524)

      Neodymium, tantalum, even cadmium is valuable until the SHTF, afterwards not so much.

      Afterwards, you'll be wanting more of your basic iron, copper, maybe aluminum and some of the simpler, better known alloying metals.

      --
      🌻🌻 [google.com]
  • (Score: 2) by FatPhil on Sunday August 23 2020, @08:29AM (1 child)

    by FatPhil (863) <pc-soylentNO@SPAMasdf.fi> on Sunday August 23 2020, @08:29AM (#1040715) Homepage
    Index funds do well until they don't. Charts of indexes priced in gold are available, you might find them surprising.
    --
    Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves
    • (Score: 0) by Anonymous Coward on Sunday August 23 2020, @12:21PM

      by Anonymous Coward on Sunday August 23 2020, @12:21PM (#1040754)

      When index funds don't do well, damn near everything else doesn't do well. That tends to be when tons of businesses are going out of business taking any bonds they've issued with them and employees are being laid off in droves leading to a lack of money with which to buy other things.

      You'd never want for that to be your entire portfolio, but you'd have to be a genius with bad investment timing to lose money with one.