NEW YORK: Should Elon Musk decide to dismantle several shares in Tesla Inc., he will utilize a massive rally that has made an electric vehicle maker of one of the most valuable companies in the world.
The Head of Tesla asked his Twitter followers on Saturday if he had to sell 10% of his shares.
Nearly 58% said they would support such sales, leading stocks down 4.9% when trading continued on Monday.
Musk touched his Twitter followers after the leap in Tesla’s shares in the last few weeks was extended, if Volatile, Run for stock since it was added to the S & P 500 index at the end of last year.
Trade in Tesla averaged $ 19 billion a day in the last three months, more than a company A.S.
Others, according to refinitiv data.
Here it looks closer to Tesla’s shares: After falling in the first half of 2021, Tesla’s shares have surged in recent weeks.
Since October 20, stocks have risen by around 34%, with the S & P 500 up 3.6% during that time, a step that has encouraged the market value of electric car makers of more than $ 1 trillion.
With a recent increase, Tesla’s shares have now jumped 67% since the shares joined the S & P 500 at the end of December, versus a 27% increase for the benchmark index during that time.
Tesla accounted for around 2.5% of the S & P 500 $ 4 trillion market capitalization.
It was proportional to 1.8% when Tesla joined the index on December 2020.
Tesla’s assessment had crawled lower in recent months, because analysts increased their estimates of income.
Analysts on average see income of 2022 Tesla per share at $ 7.92, up from an average estimate of $ 5.50 per share in February.
However, PE Tesla’s assessment remains high, with stock now trading at 150 times in the future, compared to 21 times for the S & P 500.
Short betting against Tesla has declined this year because stock rallies force some investors to cover their position.
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The number of Tesla shares was ranked 29.5 million, down from 60.6 million in early January, said Analytics S3 said on Monday.
Short position in Tesla as a percentage of the company’s float fell to 3.6% from around 8% at the beginning of the year.
However, Tesla’s short interest, the size of the stock price and the number of short circuit shares, amounted to almost $ 36.1 billion, greater than other shares, according to S3.
Tesla and other car company shares have bound big changes this year because the automatic sector passes through the upheaval related to the global supply crisis and other effects of the Pandemic Coronavirus.
Tesla shares have obtained or lost 2% in the 99-time session so far in 2021, compared to 79 times for Ford motorbikes and only five times for the S & P 500.