Tesla Inc. TSLA shares,
fell 2.1% in pre-market trading on Monday, putting them at risk of suffering their first drop in 12 trading sessions. The stock soared 37.4% amid a record 11-day winning streak, closing Friday at $ 880.02. Since the last stock dip on December 22, the electric vehicle maker’s market capitalization has increased by more than $ 227 billion to $ 834.2 million, enough to make Tesla the fifth most valuable American company and CEO Elon Musk the richest person in the world. Wedbush analyst Dan Ives said in a note to customers that he believes China may see “surprising demand” in 2021 and 2022, with Tesla’s flagship Giga 3 footprint a “major competitive advantage”. Tesla’s shares more than doubled (up 102.8%) in the last three months through Friday, while the S&P 500 SPX,
gained 10.0%.
