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Added on the 10/09/2018 17:21:37 - Copyright : AutoExpress
A Porsche with a claim to leadership: When the Taycan with its striking design leaves the pit lane and onto the track in the ABB FIA Formula E World Championship, it is soon at the front of the field. The first all-electric sports car from Porsche this season is the new Safety Car of the innovative electric racing series. It celebrates its premiere on the racetrack at the start of the Formula E season on April 28/29. January in Diriyah, Saudi Arabia.The Porsche Taycan Turbo S is intended to be more than just the safety vehicle for the ABB FIA Formula E World Championship. Its eye-catching livery, which features the colors of all eleven teams as well as the FIA and Formula E, symbolizes the commitment of everyone involved to Formula E and the common path to the all-electric future of motorsport. At the same time, it visualizes social values such as diversity and community. The number 22 recognizes the performance of the 22 drivers competing this season.
On Monday, Tesla stock climbed as much as 5%. Business Insider reports that Tesla's market capitalization is north of $700 billion. Elon Musk's company exceeded its production target of 500,000 vehicles last year. The company has fallen just short of 500,000 deliveries. "So proud of the Tesla team for achieving this major milestone!" Musk tweeted about the news. Tesla's stock price soared by more than 740% in 2020.
Business Insider reports that Tesla's stock price skyrocketed 740% in 2020. The Wall Street is split on where the shares will move next. JPMorgan sees the electric vehicle company plummeting 87% to $90 a share in 2021. Meanwhile Goldman Sachs has a 12-month price target of $780 for Tesla. Wedbush rates the stock "neutral," with a 12-month price target of $715, and a bull case price of $1000. CFRA Research senior equity strategist has a "hold" rating on Tesla and a 12-month price target of $750. RBC Capital Markets has a $339 price target for Tesla, more than a 50% drop from current levels.
Tesla short-sellers saw $38 billion in mark-to-market losses throughout 2020, Bloomberg reported Thursday, citing S3 Partners data. Short interest in the company's shares plunged to less than 6% of Tesla's float from nearly 20% at the start of last year. The losses trounce the $2.9 billion total seen in 2019 and come on the back of Tesla's 740% surge over the past 12 months. Investors betting against Tesla lost billions last year, as the automaker's shares leaped above nearly all estimates.
Tesla may be the new kid on the block in the auto industry, but it's quickly become a big kid on Wall Street. The electric-car maker's shares continued to climb more than 4% on Tuesday. This increases the company's total market value above $500 billion for the first time. The milestone comes on the heels of a banner year for Tesla's stock, says CNN. Tesla recently upgraded facility now has the capacity to build 500,000 Model Y and Model 3 sedans a year. This is in addition to 90,000 of its more expensive Model S and Model X vehicles.
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