ð§ĻTesla stock hits record high, the company passed the $1 trillion dollar mark in value during Mondayâs trading
Tesla (TSLA.US) stock rose nearly 5.0% during today's session, extending yesterday's gains and reaching a new all-time high. The stock jumped by almost 13% on Monday after Bloomberg reported that car rental firm Hertz has ordered 100,000 cars from the electric car manufacturer to build out an electric vehicle rental fleet by the end of 2022. The deal, which will bring in a reported $4.2 billion for Tesla, is the largest ever purchase of electric vehicles. Cars are to be delivered in a period of about 14 months. The deal could also underscore Teslaâs position as the go-to EV maker for large orders, given its proven products and fast-growing production base, which includes upcoming factories in Texas and Germany. Additionally, Morgan Stanley hiked its price target on the shares to $1,200 from $900. Also news that the company's Model 3 becoming the first electric vehicle to top monthly sales of new cars in Europe boosted market sentiment. Thanks to this positive news, the company passed the $1 trillion dollar mark in value during Mondayâs trading. Given the size of the company and its index weight, the recent price rally seems to support positive sentiment on Wall Street. As a result both the Dow Jones and the S&P 500 hit a fresh record high at the open on Tuesday, while NASDAQ is approaching its all-time high.Â
Tesla (TSLA.US) stock launched today's session sharply higher and reached a new all-time high. If current positive sentiment prevails, the next target for buyers is located at $1125.00 level which coincides with 161.8% Fibonacci external retracement of the last downward wave. Source: xStation5
