{"id":104695,"date":"2021-01-07T17:48:48","date_gmt":"2021-01-07T17:48:48","guid":{"rendered":"https:\/\/myfintale.com\/?p=104695"},"modified":"2021-01-07T17:48:48","modified_gmt":"2021-01-07T17:48:48","slug":"tesla-briefly-tops-facebook-market-value-as-rbc-analyst-buckles","status":"publish","type":"post","link":"https:\/\/myfintale.com\/markets\/tesla-briefly-tops-facebook-market-value-as-rbc-analyst-buckles\/","title":{"rendered":"Tesla Briefly Tops Facebook Market Value as RBC Analyst Buckles"},"content":{"rendered":"

In this article<\/h2>\n

Tesla Inc. briefly commanded a bigger market valuation than social-media giant Facebook Inc., with the latest jolt to the electric-vehicle maker\u2019s share price coming from the capitulation of a long-time Wall Street bear on Thursday.<\/p>\n

Elon Musk-led Tesla has been on a stunning run over the past year, recording a 743% gain in its stock in 2020 as the company blew past several key milestones, got added to the S&P 500 Index and benefited from a growing view among consumers and market watchers that electric cars will dominate the future auto industry.<\/p>\n

After Thursday\u2019s advance, Tesla\u2019s market capitalization stands at about $761 billion, right around Facebook\u2019s $769 billion. Facebook shares rose as much as 3.2% on Thursday while Tesla jumped 7.4% to an all-time high. <\/p>\n

Tesla shares are on a 10-day winning streak, the longest since April and only the second time since its 2010 initial public offering it\u2019s risen so long.<\/p>\n

That relentless surge has forced Wall Street into a perpetual game of catch-up, with analysts\u2019 average price target still far below the current stock price. On Thursday, RBC Capital Markets analyst Joseph Spak upgraded Tesla to the equivalent of a hold rating from a previous sell recommendation, saying he got the stock \u201ccompletely wrong.\u201d<\/p>\n

Spak raised his 2025 delivery estimate for Tesla to 1.7 million cars from 1.3 million, and said his biggest mistake was underestimating the company\u2019s ability to take advantage of its stock price to raise capital and fund growth or acquisitions. The analyst more than doubled his price target to $700 from $339.<\/p>\n

\u2014 With assistance by Ryan Vlastelica<\/em><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In this article Tesla Inc. briefly commanded a bigger market valuation than social-media giant Facebook Inc., with the latest jolt to the electric-vehicle maker\u2019s share […]<\/a><\/p>\n<\/div>","protected":false},"author":3,"featured_media":104694,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nTesla Briefly Tops Facebook Market Value as RBC Analyst Buckles - my finance tale<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/myfintale.com\/markets\/tesla-briefly-tops-facebook-market-value-as-rbc-analyst-buckles\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tesla Briefly Tops Facebook Market Value as RBC Analyst Buckles - my finance tale\" \/>\n<meta property=\"og:description\" content=\"In this article Tesla Inc. briefly commanded a bigger market valuation than social-media giant Facebook Inc., with the latest jolt to the electric-vehicle maker\u2019s share [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/myfintale.com\/markets\/tesla-briefly-tops-facebook-market-value-as-rbc-analyst-buckles\/\" \/>\n<meta property=\"og:site_name\" content=\"my finance tale\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-07T17:48:48+00:00\" \/>\n<meta name=\"author\" content=\"Vogel\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/myfintale.com\/wp-content\/uploads\/2021\/01\/cfntalkfoto1200x675.png\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Vogel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/myfintale.com\/markets\/tesla-briefly-tops-facebook-market-value-as-rbc-analyst-buckles\/\",\"url\":\"https:\/\/myfintale.com\/markets\/tesla-briefly-tops-facebook-market-value-as-rbc-analyst-buckles\/\",\"name\":\"Tesla Briefly Tops Facebook Market Value as RBC Analyst Buckles - 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