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Perfect flight? Saudi fund almost cleared Tesla shares in the fourth quarter of last year

category:Finance
 Perfect flight? Saudi fund almost cleared Tesla shares in the fourth quarter of last year


On October 23 last year, Teslas third quarter results turned a loss to a profit unexpectedly, and it said that the super factory in Shanghai had trial production ahead of schedule. Since then, Teslas share price has more than doubled in three months.

According to trading data, Teslas shares rose 71% in closing price from October 1 to December 31 last year, and 125% from October 23 to January 23 last year.

In 2020, Teslas rally is more fierce, reaching a closing high in 12 days in January alone. On Monday, the first trading day of February, it closed 20% higher, the biggest one-day increase since May 9, 2013, and a closing record for the fourth consecutive day.

On Tuesday, Tesla opened up 13% and broke $900 for the first time in the history of the session. Since the beginning of 2020, it has risen more than 110%. The intraday growth once reached 20%. Finally, it closed up 13.73% and closed at $887.06, setting a new closing record.

Analysts believe that Teslas recent surge has been driven by multiple factors.

Last Wednesday, Teslas fourth quarter results were well ahead of market expectations. Earnings per share (EPS) in the current quarter was more than 50% higher than the market expectation, and free cash flow was twice of the expectation, making profits for two consecutive quarters. When Tesla released its financial report, it predicted that this years car delivery will be easily more than 500000, an increase of more than 36% compared with last year. It said that the U.S. factory began to produce model y in January and began to deliver at the end of the first quarter, which was expected to enter initial production only this summer.

In addition to its outstanding performance, Tesla received several positive results on Monday.

On Monday, Panasonic, which has a joint-venture battery plant with Tesla in the United States, said the rapid growth of Teslas production helped Panasonics battery business make profits for the first time in the fourth quarter of last year.

Argus analyst bill selesky raised Teslas target price on Monday from $556 to $808, the highest target for Wall Street institutions. Selesky said growth in model s and model x vehicle revenue and strong market demand for model 3 were the main reasons for its target price hike.

Baillie Gifford & Co, Teslas largest outside shareholder after musk, increased its stake in the company, according to documents released on Monday. Baillie Gifford now owns 7.67% of the company, up from the previous 7.46%. Also on Monday, Ningde Times said it plans to sign an agreement with Tesla to supply lithium-ion power battery products to Tesla. At present, Ningde times, Tesla, Inc. have signed this agreement, which needs to be signed by Tesla (Shanghai) Co., Ltd. Cooperation with Ningde era is regarded as another progress of Tesla Chinas localization. In addition, there are analysts that short sellers forced to stop short is a big push. According to S3 data, Tesla is the largest short position of U.S. stocks. Since the beginning of this year, investors who short Tesla have lost more than 8 billion dollars in total. On Monday alone, short positions lost 3.2 billion dollars, the highest single day loss record. Source: Wall Street editor in charge: Yang bin_nf4368

Baillie Gifford & Co, Teslas largest outside shareholder after musk, increased its stake in the company, according to documents released on Monday. Baillie Gifford now owns 7.67% of the company, up from the previous 7.46%.

Also on Monday, Ningde Times said it plans to sign an agreement with Tesla to supply lithium-ion power battery products to Tesla. At present, Ningde times, Tesla, Inc. have signed this agreement, which needs to be signed by Tesla (Shanghai) Co., Ltd. Cooperation with Ningde era is regarded as another progress of Tesla Chinas localization.

In addition, there are analysts that short sellers forced to stop short is a big push.

According to S3 data, Tesla is the largest short position of U.S. stocks. Since the beginning of this year, investors who short Tesla have lost more than 8 billion dollars in total. On Monday alone, short positions lost 3.2 billion dollars, the highest single day loss record.