Ipek Ozkardeskaya
Swissquote Bank Ltd
Tesla shares traded past $1000 on Monday on news that Hertz will buy 100’000 of its electric cars before the end of 2022. With the latest surge, Tesla is now a trillion-dollar company, and accounts for more than 40% of the global market share of the entire auto industry, not only the electric cars. This jaw-dropping divergence in valuation brings about the question of whether it is time to step up holdings in other carmakers stepping on gas for electrification as well.
Elsewhere, the S&P500 hit a new record, while Facebook gained before and after the earnings announcement, but the Facebook Papers and a falling trend in its ability attract and keep youngsters on its platform keeps the investor appetite fragile for Facebook.
Twitter and AMD are due to announce earnings today.
Bitcoin consolidates near $62K, Ethereum is just below record and US crude is just a touch below the $85 per barrel level.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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