Tesla shares skyrocket this Monday on Wall Street, driven by new bullish analyst targets for the Elon Musk company and news related to the Panasonic unit that produces batteries for this company. A closing last Friday of $650.57 today rises to $748.10.
On January 9, with seven days of Wall Street completed in 2020, the company S3 Partners said that those who decided to sell their stake in Tesla lost nearly 2,000 million dollars. The sales figures for December and the opening of its factory in China already improved analyst expectations.
The figures not only enrich the company but Elon Musk himself, who agreed to be part of a payment plan in which he would not receive money until Tesla’s capitalization value exceeded $100,000 million. Musk receives shares for 1% of Tesla for each of the 12 goals set for ten years.
The automaker continued its gain on the public market with the stock trading over $900 a share in pre-market trading:
“While we are seeing some momentum short sellers increasing their positions in anticipation of a short-term pullback, we should see an increase of short-covering due to this $700/share level squeeze.”