Tesla is now a trillion-dollar company [Video]

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.

Author

Ipek Ozkardeskaya

Swissquote Bank Ltd

Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.

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