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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: 0) by Anonymous Coward on Saturday August 22 2020, @08:25PM (2 children)

    by Anonymous Coward on Saturday August 22 2020, @08:25PM (#1040514)

    I expect Trump to ask the Fed to discontinue the support on his reelection. It's time for the market to discover price and value again.

  • (Score: 2) by JoeMerchant on Saturday August 22 2020, @08:55PM

    by JoeMerchant (3937) on Saturday August 22 2020, @08:55PM (#1040523)

    I expect Trump to lose, and do everything in his power to crash the market as fast as possible afterwards. It's pretty incredible the lengths and they went to and temporary short term measures they used to pump it up when he got in.

    --
    🌻🌻 [google.com]

  • (Score: 1) by fustakrakich on Saturday August 22 2020, @09:59PM

    by fustakrakich (6150) on Saturday August 22 2020, @09:59PM (#1040534) Journal

    Of course not! He will double it. In fact, they stopped counting. It's just wide open. This is no more a "Trump" thing than the 2008 heist.

    --
    La politica e i criminali sono la stessa cosa..