https://www.forex-news.com/
Forex-News has been the world leading economy news website since 2005. It has been a joyful path full of changing variables in this changing world. During the last three years we have also covered some of the most important news regarding Bitcoin and other cryptocurrencies. Wherever the news are, we are there.
, Phenomenal rally: TheStreet has decided: That was the best share in 2020 | message, Forex-News, Forex-News
Bitcoin
$39,972.26
-580.26
Ethereum
$2,546.99
-9.39
Litecoin
$173.68
-1.04
DigitalCash
$170.79
-3.39
Monero
$275.71
+9.34
Nxt
$0.03
-0
Ethereum Classic
$57.64
-1.33
Dogecoin
$0.32
-0.01

Phenomenal rally: TheStreet has decided: That was the best share in 2020 | message

3
, Phenomenal rally: TheStreet has decided: That was the best share in 2020 | message, Forex-News, Forex-News


, Phenomenal rally: TheStreet has decided: That was the best share in 2020 | message, Forex-News, Forex-News

Tesla with a phenomenal rally despite Corona
Electric car maker is now one of the ten most valuable companies in the world
Massive investments secure the way into the future

Even if the year 2020 belonged entirely to the corona pandemic, investors around the world should also remember the development of a share in particular. We are of course talking about the electrical pioneer Tesla. Because while the travel and catering industry in particular suffered hard from the Corona restrictions, the manufacturer of electric vehicles was able to benefit massively from the change to more environmentally friendly technologies. In addition, there was a lot of positive news from Tesla, which offered investors additional incentives to access the paper with both hands.

This is what happened to Tesla shares in 2020

So it came about that Tesla shares ended 2020 with a phenomenal plus of 743 percent at 705.67 US dollars. The market capitalization of the e-car manufacturer has also multiplied accordingly, so that the company is now under the leadership of Elon Musk is now one of the ten most valuable corporations in the world – a fact that seemed unthinkable a year earlier.

This development led to the fact that the Tesla share was named the best share of 2020 by the stock exchange portal TheStreet. A group of experts from various stock portals were asked about their top candidates for the best stock of the year. The top 25 was then again sorted by favorites, with the e-car manufacturer coming in first. However, if you look at the share performance, the win should come as little surprise. However, the question remains whether the meteoric rise in the share certificate is actually justified and whether the Musk Group can also convince investors in the future.

A rapid rise

If TheStreet editor Rob Maurer has his way, the answer is a resounding yes. Because, according to Maurer, investors should not concentrate on what the company has achieved in recent years, but rather what potential the future holds for the electric car manufacturer. It is not very meaningful that international auto giants such as Toyota, VW, Daimler, BMW, General Motors and Ford together bought around 40 million vehicles in 2019, while Tesla only sold 367,000 cars. Rather, the growth rate with which Tesla is expanding its position should be taken into account. And that can be seen. The car manufacturer has had annual growth of a full 52 percent since 2013, a rate that traditional car manufacturers can only dream of.

Construction of several factories

In addition, the Musk Group is investing heavily in its future. In 2020, not only did the Shanghai Gigafabrik successfully produce its first Teslas, the construction of further production facilities in Germany and Texas has also made good progress. And even in the crisis caused by the corona pandemic, the electrical pioneer showed himself to be resilient and was able to prove his profitability for five quarters in a row, which ultimately culminated in the inclusion of Tesla shares in the market-wide S&P 500.

The question now is what the year 2021 could have in store for Tesla shares. If you look at FactSet’s analysts’ opinions, the picture is mixed. The consensus of the 34 surveyed experts results in a “hold” rating for the share certificate. However, the average target price of $ 432 is well below the current level of the stock. However, the most bullish estimate is $ 800 above the current value.

Batteries and autonomous driving hold future potential

If Maurer has his way, Tesla’s battery ambitions in particular should offer a great future for the electric car maker. Ultimately, Tesla’s own battery production would make Tesla independent of any suppliers and pave the way for the car manufacturer’s plan to make its vehicles even more affordable. The Street expert also sees great potential in the technology for autonomous driving by the electric vehicle manufacturer. Even if this is currently not so far advanced that it could live up to its name, Tesla is continuously making efforts to develop it further and is, once again, ahead of the competition.

Either way, it should be extremely exciting in the New Year to closely monitor Tesla’s next steps – regardless of whether you are a Tesla fanatic or a skeptic.

Finanzen.net editorial team

More news about Tesla

Image sources: domnitsky / Shutterstock.com, Holmes Su / Shutterstock.com



, Phenomenal rally: TheStreet has decided: That was the best share in 2020 | message, Forex-News, Forex-News

Get real time updates directly on you device, subscribe now.

, Phenomenal rally: TheStreet has decided: That was the best share in 2020 | message, Forex-News, Forex-News

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More