The stock of Tesla rises above $ 800 again because Chinese production is being stopped due to fear of Coronavirus to resume
Shares in Tesla shares continue their wild drive as they briefly rose above $ 800 and withdrew on Monday, just like last week.
Shares from the shares of the electric vehicle manufacturer climbed up to 7 percent in Monday’s trading, putting the company above the $ 800 level it reached Tuesday, before reducing those profits and closing 3.1 percent higher.
The increase in stock came on the news that the Tesla plant in Shanghai would resume production after the recent closure of the Lunar holiday on January 30 was extended due to concerns about the corona virus.
The plant has remained closed because China has tried to control the flu-like illness, which has claimed more than 900 lives.
Shares of Tesla shares continue their wild drive as they briefly rose above $ 800 on Monday and withdrew, just like on February 4.
The latest increase in Tesla’s stock came on the news that the Shanghai factory (photo) would resume production
The Shanghai factory at Tesla has remained closed because China has tried to control the flu-like illness, which has claimed more than 900 lives. It depicts medical personnel who moved a coronavirus-infected patient to a hospital in Wuhan last week
Tesla Vice President Tao Lin said production would restart on February 10, although deliveries would be delayed, Reuters reports.
The plant is building the company’s Model 3, a mass production vehicle that will play an important role in helping the EV maker stay sustainable and grow at the same time.
Tesla’s shares also reached the $ 800 level on Monday after Morgan Stanley said the shift from the market to electric cars of cars with flammable engines could be estimated at $ 25 trillion in the coming decades, Market overview reports.
In addition, Shanghai’s rival Nio, also called China’s Tesla, reported sales in January were a year ago, but the results were still considered “satisfactory,” given the impact of the corona virus outbreak on the production and timing with the lunar New Year.
Tesla shares rose to 9.6 percent on Monday and reached $ 819.00 during intraday trading, which was the first level above $ 800 since the morning of February 5, and then rose slightly more than 4 percent against afternoon trading, MarketWatch reports .
The stock now traded 12 percent below the February 4 record of $ 887.06 and 19.5 percent below the highest intraday high of $ 968.99 that it reached the same day, MarketWatch reports.
The stock has more than doubled in the last 90 days, around 132 percent, while the S&P 500 index has risen 8.1 percent.
Tesla’s Shanghai plant is building the company’s Model 3, a mass production vehicle (photo) that will play an important role in helping the EV maker stay sustainable while it continues to grow
Tesla founder and CEO Elon Musk attends a ceremony in January at the Tesla factory in Shanghai
Morgan Stanley analyst Adam Jonas told customers that the global penetration of electric vehicles was currently around 2 to 3 percent, MarketWatch reports.
Tesla became the most valuable American car manufacturer of all time after the company closed on January 13 with a market value of $ 81.39 billion.
The company exceeded the Ford Motor peak of $ 80.81 billion that was set in 1999.
But the market value of Tesla is still behind Toyota and Volkswagen.
The founder of the car manufacturer Elon Musk is now on its way to earn a record day of $ 346 million.
Musk, which does not earn a salary or cash bonus, will instead be given options to establish based on Tesla’s market capitalization and milestones for growth
And he came close to earning the first $ 346 million tranche options in a record-breaking salary package in January, after the inventory of the electric vehicle manufacturer’s manufacturer more than doubled the value of the previous three months.
Jonas says that in the midst of the rapid increase in Tesla to become the most valuable American car manufacturer – currently with a market capitalization of around $ 135 billion – many original equipment manufacturers are accelerating efforts to switch internal combustion propulsion systems to electric vehicle architectures with full battery. “
Jonas says that the penetration of EVs in 2025 can more than triple to 11 percent, and then reach 24 percent by 2030, 70 percent by 2040 and 82 percent by 2050.
Tesla founder Elon Musk’s Twitter campaign against Facebook
Before the last rise and fall of Tesla shares, the company’s founder, Elon Musk, drew attention to himself after calling on Facebook users to delete their accounts and labeled the social media site as “weak.”
The billionaire owner of Tesla and space manufacturer SpaceX tweet the # DeleteFacebook hashtag in response to British comedian Sacha Baron Cohen, a vocal critic of Facebook.
Baron Cohen had tweeted: ‘We will not let 1 person arrange the water for 2.5 billion people. We do not allow 1 person to arrange electricity for 2.5 billion people. Why do we let 1 man check the information that 2.5 billion people see?
“Facebook must be regulated by governments, not ruled by an emperor!” he added, accompanied by a photographed photograph of the face of Mark Zuckerberg on a Roman statue.
Musk replied: “#DeleteFacebook It’s lame”.
The # DeleteFacebook hashtag has been trending since March 2018, when it was confirmed that Facebook had hired Cambridge Analytica to collect personal private data from up to 87 million Facebook user accounts for advertising purposes.
Musk deleted the official Facebook accounts for Tesla and SpaceX the same month after a Twitter user had requested this.
“I didn’t know there was one. I will, “he said at the time.
“It’s not a political statement and I didn’t do this because someone challenged me to do it,” he later tweeted about the decision.
“Just don’t like Facebook. Gives me the willies. Sorry.’