Shares of Tesla Inc. TSLA, +19.89% shot up 14% toward another record in active premarket trading Tuesday, to extend their rocket ride over the past week. After running up 19.9% on Monday, the biggest one-day gain since May 2013, the stock has run up 40% over the past five sessions, and set 15 record high closes so far this year. The rally was highlighted by Tesla's first-ever quarterly profit reported last week and massive losses suffered by the relatively high number of short sellers--investors who bet on the stock to fall--with shorts suffering paper losses of about $2.5 billion on Monday alone. Scotland-based investment manager Ballie Gifford & Co., Tesla's second-largest shareholder according to FactSet, disclosed Monday that it had increased its stake to 13,826,979 Tesla shares, or 7.67% of the shares outstanding, from 13,451,571 shares, or 7.46% of the shares outstanding at the end of September. Wedbush analyst Dan Ives said in a note to clients this week that he believes the "bull party will likely continue in the near term," and that fundamentally the coronavirus should have "negligible impact" on Tesla's growth trajectory. The stock has run up 149.3% over the past 12 months through Monday, while the S&P 500 SPX, +0.73% has gained 19.2%.
https://news.google.com/__i/rss/rd/articles/CBMiggFodHRwczovL3d3dy5tYXJrZXR3YXRjaC5jb20vc3RvcnkvdGVzbGFzLXN0b2NrLXNob290cy11cC10b3dhcmQtYW5vdGhlci1yZWNvcmQtYWRkaW5nLXRvLTQwLXJ1bi11cC1vdmVyLXRoZS1wYXN0LTUtZGF5cy0yMDIwLTAyLTA00gFPaHR0cHM6Ly93d3cubWFya2V0d2F0Y2guY29tL2FtcC9zdG9yeS9ndWlkLzQwMTgzMjcyLTVCRjUtNDQ2NS1BQUM5LUMxQjYyOUEyOTgyMg?oc=5
2020-02-04 13:52:00Z
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