• 3 minutes Marine based energy generation
  • 5 minutes "Saudi Armada heading to U.S.", "Dumping" is a WTO VIOLATION.
  • 8 minutes Why Trump Is Right to Re-Open the Economy
  • 12 minutes Which producers will shut in first?
  • 2 hours A small trial finds that hydroxychloroquine is not effective for treating coronavirus
  • 4 hours Saudis to cut 4mm bbls. What a joke.
  • 4 hours Saudi Arabia Is Buying Up European Oil Majors
  • 2 hours The GREAT OPEC+ Agreement
  • 1 hour Trump will be holding back funds that were going to W.H.O. Good move
  • 3 hours Chinese Communist Party
  • 1 hour US Shale Resilience: Oil Industry Experts Say Shale Will Rise Again
  • 5 hours Occidental hypocrisy
  • 3 hours Russia's Rosneft Oil is screwed if they have to shut down production as a result of glut.
  • 8 hours Sharp real pure true hard working roughneck needing work..
  • 9 hours Death Match: Climate Change vs. Coronavirus
  • 9 hours Get First Access To The Oilprice App!
Small Oil Firm Reports Huge Alaska Oil Discovery

Small Oil Firm Reports Huge Alaska Oil Discovery

UK-based oil exploration firm Pantheon…

Tesla Shoots Past $500-Mark

Musk

Tesla (NASDAQ: TSLA) stock shot up over 8% to over $500 on Monday, reaching $516.83 (+$38.67) by 2:30pm EST as bullish sentiment for the electric car manufacturer takes on a whole new level of bullishness.

The market cap for Tesla is now over $93 billion--close to that $100 billion threshold that would net Elon Musk a cool $346 million.  By comparison, this is larger than Ford and GM’s market cap combined.

Ford’s market cap is just under $37 billion, and GM’s is just under $50 billion.

Tesla’s stock would need to reach $554.80 for it to hit that $100 billion market cap level.

Musk’s executive pay package is thought to be the most generous on the planet, although he gets no salary or bonuses.

The surge comes hours after Oppenheimer analyst Colin Rusch increased his target for Tesla’s stock price to $612 per share on the grounds that the car company has now achieved “critical scale” that will allow Tesla to sustain positive free cash flow.

"We believe the company's risk tolerance, ability to implement learnings from past errors, and larger ambition than peers are beginning to pose an existential threat to transportation companies that are unable or unwilling to innovate at a faster pace," Rusch said in a Monday note to clients.

Tesla’s stock has risen from $334.40 since this time last year.

Also on Monday, Tesla said it’s full self-driving feature would be complete “soon” in what was another missed deadline for Elon Musk, who promised that the feature would be available at the end of 2019. Traders are, however, unconcerned with yet another of Musk’s missed deadlines, given the fact that prices have surged since the end of the year.

By Julianne Geiger for Oilprice.com

More Top Reads from Oilprice.com:



Join the discussion | Back to homepage




Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News