11/19/2023 0 Comments Tesla current stock priceTesla is a favorite stock for short sellers, investors who make money by betting the stock price is going to go down. What’s going on? Tesla’s high stock price seems to be a confluence of a number of factors, including short selling, a good earnings report, positive press, and mainstream popularity. Those of you with longer memories might remember back in 2018 when Tesla CEO Elon Musk got in hot water for tweeting that he’d take the company private when it reached $420, a price that seemed to many too high at the time. That’s also approximately equivalent to the GDP of Algeria. The electric car company’s current stock price gives it a market capitalization - a rough proxy for what you could sell the company for - of $160 billion, making it now in league with the value of Salesforce, McDonald’s, Citigroup, and Netflix. It dropped off precipitously toward market close Tuesday after rising to about $955. Tesla’s stock price is also very volatile. And not everyone is necessarily happy about that sky-high number, notably the Saudi Arabia Public Investment Fund, which dumped 99.5 percent of its stock in the company late last year. For context, in that same time period the S&P 500, a measure of the stock performance of the country’s most valuable companies, rose just 1 percent.Ī high stock price means demand for Tesla stock is high. ![]() ![]() Tesla’s stock is currently worth almost $890 a share - more than double what it was just last month.
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