Tesla to start 2021 trading at record highs

Tesla to start 2021 trading at record highs

Tesla was rising close to 3% in premarket trading Monday, January 4, and expectations are high for the year’s first trading day.

After Tesla’s stock surged a whopping 700% in 2020, it seems the company will continue its incredible ascension. According to the markets, Elon Musk’s corporation will resume its record-smashing trend, with fresh highs on the horizon for Monday trading.

J.P Morgan analysts expressed their optimism regarding Tesla’s future: “We are raising our forecasts to reflect higher 4Q deliveries and reports of strong demand for the #ModelY in China, which is also suggestive of higher future deliveries,” they said in a note, cited by reuters.com.

Tesla beat Wall Street estimates for delivered vehicles

According to Refinitiv data, #Tesla delivered 499,550 #electric #cars in 2020, above Wall Street estimates of 481,261 vehicles. However, the number fell 450 units short of Chief Executive Officer Elon Musk’s target.

In its previous five quarters, Tesla has reported profits in an industry characterized by slumping sales, quarterly losses, and global supply chain disruptions.

According to Bloomberg estimates, Elon Musk, the world-renowned Tesla CEO, has quintupled his net worth since January 2020. Last year alone, he added $132 billion to his wealth, reaching the No. 2 spot among the world’s richest with a fortune of about $159 billion. #AMZN Jeff Bezos remains in the first place, with a net wealth of approx. $186 billion.

Sources: reuters.com, investing.com, Bloomberg.com, thestreet.com

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