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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: 2) by FatPhil on Sunday August 23 2020, @08:36AM (2 children)

    by FatPhil (863) <pc-soylentNO@SPAMasdf.fi> on Sunday August 23 2020, @08:36AM (#1040716) Homepage
    Kitco has terrible spreads, nearly 2% at time of clicking. And do you actually own real metal with them, or just promises?
    At time of clicking, spreads here are between 0.02% and 0.55%, depending on the market and currency:
    https://www.bullionvault.com/market-depth.do?previousCurrency=USD&considerationCurrency=EUR&securityId=AUXZU&marketWidth=8&priceInterval=10&unitOfWeight=KG
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  • (Score: 2) by istartedi on Sunday August 23 2020, @04:37PM (1 child)

    by istartedi (123) on Sunday August 23 2020, @04:37PM (#1040833) Journal

    Those spreads are low because it's "vaulted gold" -- no better in security than the Kitco Pool. If I were in that market, I'd just buy GLD with zero transaction costs. It's just as trustworthy, if not more. You can get coins from there too, but only to a UK address, and then you're right back to bigger fees. [bullionvault.com]

    Oh, and while we're still on the topic I forgot to mention that in the USA the IRS taxes physical gold as a "collectible" with a much higher capital gain rate.

    Gold really brings out the toll-takers!

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    • (Score: 2) by FatPhil on Sunday August 23 2020, @09:38PM

      by FatPhil (863) <pc-soylentNO@SPAMasdf.fi> on Sunday August 23 2020, @09:38PM (#1040925) Homepage
      You're wrong about the security. I own the metals I buy, the government of the country I live and pay my taxes in has that point of view - there's an audit every night that proves what my holding is. GLD's a fucking joke, there's no similarity at all. Please, buy GLD, your eventual tears will make those of us who own real metal laugh.

      And why do you you say "vaulted gold" as if it's inferior? It's in a guarded vault and ensured. That's unimaginably safer than, and thus superior to, having the metals on my own property, and I'm perfectly happy to pay the absolutely minuscule fees for that storing. guarding, and insuring.

      And regarding Stupidoland, all I have to do is mention 1933 and Roosevelt. The US govt. either hates or loves gold, depending on your point of view. I live in a country where there isn't even any VAT on gold or silver, so if I did want stuff in my hands, I could historically get it at about spot + 2-3%. Of course, actual metal now is as rare as rocking horse shit, so good luck with that, anywhere in the world.
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