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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 FatPhil on Sunday August 23 2020, @08:29AM (1 child)

    by FatPhil (863) <{pc-soylent} {at} {asdf.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.
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  • (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.