Pessimist RBC raises its rating and the stock price rises
Musk beats Bezos and ranks No. 1 in the world
[실리콘밸리=뉴스핌]Correspondent Narae Kim = Teslega exceeded the Facebook market cap for the first time in the market. On this day, the record was rewritten.
According to the Reuters news agency on the 7th (local time), Tesla recorded $811.61 during the intraday, and the intraday market capitalization reached 769 billion dollars. This is more than Facebook’s market capitalization of $765 billion.
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Since then, Tesla’s share price has declined and its market cap has decreased again.
On this day, Tesla shares gained momentum as RBC upgraded its rating against Tesla from’lower market rate’ to’sector performance’.
In his research note, Tesla pessimist Joseph Speck RBC analyst said, “We underestimated the ability Tesla used to finance the company’s expansion using soaring stock prices.”
“We looked at what went wrong about growth opportunities, Tesla’s positioning and evaluation,” he added. “We concluded that the stock price itself is likely to be somewhat satisfied with Tesla’s growth and strategy.”
Analysts predict, on average, Tesla will report a net profit of $1.2 billion this year. According to Refinitiv, there is a big difference between GM’s expected net profit of $5.8 billion and Facebook’s expected net profit of $27.1 billion. Tesla has increased by more than 700% over the past 12 months. Although production is smaller than competitors such as Toyota Motor Company, Volkswagen and General Motors (GM), it has been reborn as the No. 1 automobile company.
Meanwhile, according to Bloomberg News, Tesla CEO Elon Musk has surpassed Amazon’s CEO Jeff Bezos to become the world’s number one richest person. Musk’s net worth was $185 billion, beating Bezos, the world’s number one. Bezos has maintained the number one position since becoming the world’s largest number in October 2017.