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Tesla rises 8% as breakneck rally enters 11th day and leaves famous investors split
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Tesla s momentum and back-to-back record highs have divided some of the world s most famous investors. Billionaire venture capitalist Chamath Palihapitiya praised the stock s gains in a Thursday appearance on CNBC, telling investors the stock could be worth three times its already lofty valuation. Don t sell a share, he added.
Hedge fund manager Michael Burry - whose bet against the housing market was depicted in the novel and 2015 film The Big Short - aired his contrasting opinion Thursday night. The investor tweeted that, like his famous 2008 gambit, his short position in Tesla stands to print huge gains.
Tesla extends record winning streak after Evercore capitulates
Esha Dey, Bloomberg News VIDEO SIGN OUT
Tesla Inc. rose for an 11th day Friday, its longest winning streak, after Evercore ISI removed a sell rating on the stock for the first time in a year.
Shares rose as much as 8.4 per cent to a fresh record after analyst Chris McNally upgraded the stock to the equivalent of a hold, telling clients in a note that âwhether we call it valuation confusion or valuation rotation, we have been on the considerably wrong side of Tesla for over a year now.â That came a day after RBC Capital Marketsâ Joseph Spak said he got the stock âcompletely wrong.â
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Apple plans to build an electric, self-driving vehicle for consumers by 2024, Reuters reported Monday.
Wall Street analysts from Morgan Stanley and RBC Capital Markets think Apple has several key attributes that could set it up for a successful vehicle launch.
The company s strong brand, deep pockets, and ability to vertically integrate, among other factors, set it apart from other EV startups.
However, Reuters reported and the analysts agree Apple won t be able to go it alone, and will need a manufacturing partner.
After years of ups and downs, Apple s self-driving electric vehicle project is steaming ahead, Reuters reported Monday.