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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, @09:38PM

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