The secret of Tesla, It just keeps rising.updated

Updated: Nov 28, 2020


update,

Tesla Inc. on Friday surpassed Berkshire Hathaway Inc. as the sixth-largest U.S. company by market capitalization. The Silicon Valley electric-car maker ended Friday with a market cap of $555 billion, and Berkshire Hathaway ended the day with a market cap of $543 billion, according to FactSet. Berkshire's assets dwarf Tesla's to the tune of $829.9 billion compared with $45.7 billion.


Tesla stock (TSLA) rose for the third consecutive day and the sixth time in the seven trading days after the S&P index committee announced Tesla was going into the S&P 500 on Dec. 21.

Tesla stock is up 41% since the announcement. Tesla equity is now worth about $543 billion, just shy of Berkshire Hathaway’s (BRK.A) $547 billion market capitalization.


That means Tesla will likely go into the S&P 500 as the index’s fifth or sixth largest company.


As we learn that electric car market is about to be accessible to a lot more people as Tesla and Volkswagen, the two market leaders for electric vehicles, have now both greenlighted electric car programs that are going to start at ~$25,000 to $30,000.


In surveys about going electric, the price of new electric cars is always one of the top concerns of new buyers.


Will this increase Tesla's market share in the competitive car manufacturing market? Coming after Elon Musk becomes the second richest man in the world. Is he heading towards number one?

As we head towards the Santa rally, where can the stock close by the end of year?




Elon Musk hints at Tesla hatchback model for Europe


Tesla Chief Executive Elon Musk has suggested that his firm could launch a new hatchback model in Europe in the future.

Tesla currently sells two SUVs in the Model Y and Model X, as well as the Model S executive saloon and the Model 3 sedan. It doesn’t, however, sell any vehicles that are similar in size to say a Volkswagen Golf, a Ford Fiesta, or a Mini Cooper.


“Possibly in Europe it would make sense to do, I guess, a compact car, perhaps a hatchback or something like that,” Musk said Tuesday at a virtual conference on batteries hosted by the German government, according to Reuters.


How Much Higher Can Tesla Stock Go?


Tesla’s latest rally started after S&P Dow Jones Indices announced on Nov. 16 that the electric car-maker will be added to the S&P 500 Index.


After the move, money managers and investors who closely track the S&P will now have to buy the stock in order to accurately mirror the world’s most tracked index. The electric car-maker’s scheduled Dec. 21 inclusion in the index could result in $8 billion of demand from active U.S. large-cap mutual funds, according to analysts at Goldman Sachs.


In a Bloomberg report the analyst wrote:


“Of the 189 large-cap core funds in our universe, 157 funds that manage around $500 billion in assets under management did not hold Tesla on Sept. 30.”


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