Is Tesla headed towards $7000 as predicted by Ark Invest CEO Catherine Wood?. Tesla shares surge 49% since announcing a 5-1 stock split.
Tesla Stock has been on fire ever since the electric giant announced the 5-1 stock split that is set to happen on the 31st of August. Tesla Stock trading will begin on a split-adjusted basis on August 31, 2020.
Tesla Stock is not the only stock driving the market crazy… Apple Inc! stock is presently trading around $500, after the technology giant announced a 4-1 split and trading will begin on a split-adjusted basis on August 31, 2020.
Both companies’ stocks have run substantially higher over the past 12 months without a stop sign in sight.
On August 11, the day the manufacturer of electric vehicles announced a 5-1 stock split, Tesla’s shares closed at $1,374.39. On Friday, Tesla’s stock jumped $48.15, or 2.4%, to an all-time high of $2,049.98. This follows the $123 gain on Thursday.
Tesla Market Cap. is now about $380 billion as at Friday’s closing after a 2.41% rally, and the Stock is presently up almost 4% in pre-market while it trades around $2,130.
If anything, today is going to be another super volatile day for Tesla and Apple investors as the mad rally continues.
IN February, Ark Invest CEO Catherine Wood in an interview on CNBC Fast Money explains why Tesla can hit $7000 in 2024, and also the chances of Tesla Share price surging above $7000 and reaching $15000. The interview was deemed rediculous and miss-leading by most wall street analysts. Tesla Stock Can Hit $15000 – Biggest Bull Predicts
According to Cathie, Tesla is way ahead of the competition. Tesla battery is 3 years ahead at least. For ICE car makers to compete head-to-head with Tesla, Cathie said they will have to sell their cars at a loss, at the same time they are losing their ICE business.
If Tesla Stock rally continues at the space, $7000 may be reached before the end of 2020, and Cathie may be forced to come up with a new price target.
The CEO Elon Musk is presently the 4th richest man in the world, after Facebook’s Mark Zuckerberg. Mark, hope you not sleeping?, Elon is coming for your throne!. Tesla shares have been on a tear all year, skyrocketing 390% since New Year’s Eve.