‘Tesla disappears from break’…stocks overtake Facebook

Input 2021.01.08 08:27

Tesla stock price closed at $816.04 on the 7th (local time) on the New York Stock Exchange, up 7.94% from the previous day. As a result, Tesla’s market capitalization amounted to $732.5 billion.

Facebook’s share price also rose 2.06% on that day, but its market capitalization was only $763.8 billion, allowing Tesla to overtake. Tesla is ranked 5th in the market cap of the S&P500 index after Apple, Microsoft, Amazon and Alphabet.

Tesla’s share price is showing strong year after year thanks to the positive sentiment of Joe Biden’s next US administration’s eco-friendly policy benefits, strong sales in China, and last year’s performance in line with expectations. Tesla recorded a 740% share price increase last year.

The stock expert, who gave a rough evaluation to Tesla, also changed his attitude. On the same day, RBC Capital’s Joseph Snack analyst revised up Tesla’s investment opinion and target price. Snack analysts gave the market average opinion at a target price of $700.

Meanwhile, due to a surge in stock prices that day, Tesla CEO Elon Musk also surpassed Amazon CEO Jeff Bezos and rose to the top of the world’s richest man rankings.