Shares of the electric car manufacturer “Tesla”, according to stock exchange information, continue to increase in value for the twelfth day in a row and show the best results since the fall of last year.
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Billionaire Ilona Mask’s company “Tesla” set a new personal record on Monday (Tuesday night Latvian time), that is, for the first time in the history of the company’s public trading, the value of its shares has increased twelve days in a row.
On January 8, 2021, the previous “record” ended, that is, the share price rose for eleven days in a row.
Shares in the electric vehicle giant had risen 33.6% over the past eleven days, compared to a 37.4% gain in 2021.
On Tuesday, the stock price reached almost 250 dollars per share. This is the highest price since the beginning of October last year.
It should be mentioned that not only “Tesla” is experiencing good days, but also other electric car manufacturers. CNBC analysts explain this with the increase in demand for electric cars in China.
Vijay Rakesh, an analyst at Japanese investment bank Mizuho, wrote in a note to investors that Tesla’s sales in China have been “strong” compared to its Chinese peers. In the first quarter, Tesla generated $4.89 billion in revenue from the Chinese market, or 21% of total revenue.
Also, in general, the situation in the global financial markets is relatively good. The US Federal Reserve System (FRS) is expected to pause interest rate hikes on Wednesday to give policymakers more time to assess the impact of recent interest rate hikes on the economy and banks. This prompted investors to be positive.
2023-06-13 11:58:05
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