Tesla in the fast lane

Published on: 09-Jan-2020
Category: Trading
Last updated: 10-Jan-2020

Tesla in the fast lane

The Tesla share has reached a new record. On Wednesday, it rose nearly five percent, reaching a $ 89 billion market value. The electric car maker has a larger market capitalization than General Motors ($ 50 billion) and Ford ($ 37 billion) combined. The ongoing bull market in Tesla is due to unexpected profits in the third quarter of last year, the development of a factory in China, and last quarter deliveries. Tesla sold 367,500 cars worldwide last year. The two automakers Ford and GM have both sold more than four million vehicles in the United States alone.

There are other tech stocks that are booming on Nasdaq. Apple broke the $ 300 mark early this year and the stock rose 98 percent within a year. The Amazon share rose by 14 percent compared to the previous year and Ebay also gained 17.5 percent after a turbulent year. Apple competitor Microsoft saw a steady increase in its share value in 2019, gaining a total of 54 percent.

Recently, the conflict between the United States and Iran has given investors a great deal of uncertainty on the stock exchanges. Donald Trump has announced that there will be new economic sanctions against Iran, but no military strikes. Trump will not provoke an escalation towards war in view of the November presidential election.

The easing of the situation in the Middle East also makes it easier for investors. The German benchmark index Dax put came back above 13500 points in the early morning and the Dow Jones in the USA also delivered a good value at 28745 points at the close of trading yesterday.



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