Tesla shares were marked 1.2% higher on pre-market trading on Friday to indicate an opening price of the bell of $ 2,026.00 each, a historic high that would set the gain of the share year-to-date at around 386% and would value Palo Alto, Calif. over $ 380 billion based automaker.
In fact, Tesla shares have gained nearly 50% since the group unveiled plans for its five-for-one stock split on August 11 that would make its equity more accessible to investors as it prepares to enter. in the S&P 500 benchmark.
Credit Suisse analysts suggest the inclusion of the S&P 500 could trigger even more activity in Tesla stock, with additional “significant” purchases of around 18 million shares – around 10% of its total assets – from passive investors and fund managers who follow the benchmark. .
Tesla cleared its latest hurdle to inclusion in the benchmark after posting its fourth consecutive quarterly profit last month, helped in part by the sale of government emissions credits.
Tesla said GAAP earnings for the three months ending in June were set at 50 cents per share, down from a loss of $ 2.31 per share in the same period last year, on earnings of 6. 04 billion dollars. The quarterly profit, Tesla’s fourth in a row, clears one of the last hurdles – albeit not automatic – for the company to be included in the benchmark S&P 500. Tesla has also confirmed its target of delivering vehicles for the full year of 500,000, despite a total of 179,050 units in the first half.
Tesla, which assumed the role of the world’s most valuable automaker in July despite its modest contribution – less than 1% – to total global sales, will sell a maximum of 500.00 cars this year.
Ford Motor Co. (F) – Get the report, which has a market value of 14 times less, will likely displace 2.2 million vehicles, and Toyota Motor Co. (TM) – Get the report, with a market value of $ 220 billion, will sell 10.7 million vehicles.