• Latest
  • Trending
Tesla’s market capitalization reaches $1 trillion for the first time as Hertz announces plans to purchase 100,000 electric cars.

Tesla’s market capitalization reaches $1 trillion for the first time as Hertz announces plans to purchase 100,000 electric cars.

Arlington 1 student was killed and another wounded

Arlington 1 student was killed and another wounded in a shooting at Lamar High School in Arlington, and the suspect has been taken into custody.

At the end of the 2005

James Reimer: The Canadian Hockey Hero

Aaron Rodgers discusses his future as trade rumors heat up

Aaron Rodgers discusses his future as trade rumors heat up

Pete Davidson

The Rise and Success of Comedian Pete Davidson: From SNL to Smartwater

Return of Buzz and Woody in Disney's Newly

Toy Story 5: Return of Buzz and Woody in Disney’s Newly Announced Sequel

The Legend of Zelda: Tears of the Kingdom – New Release with a $69.99 Price Point.

The Legend of Zelda: Tears of the Kingdom – New Release with a $69.99 Price Point.

Google Challenges Microsoft and OpenAI's Language Models with Development of "Bard"

Google Challenges Microsoft and OpenAI’s Language Models with Development of “Bard”

  • My account
  • Contact Us
  • Terms and Conditions
  • Privacy Policy
New 24 Hour
  • news
  • Cinema news
  • cryptocurrency news
  • Biography
  • Dead Actors
  • Entertainment
  • Sport
    • Tiger Woods
    • Detroit tigers
  • more..
    • government
    • Story
    • Gaming
    • Movies reviews
    • New 24 hour
    • Economy
    • Politics
    • education
    • nature
    • Arts
    • fashion
    • education
    • History
    • cooking
    • Health
    • weather
No Result
View All Result
  • news
  • Cinema news
  • cryptocurrency news
  • Biography
  • Dead Actors
  • Entertainment
  • Sport
    • Tiger Woods
    • Detroit tigers
  • more..
    • government
    • Story
    • Gaming
    • Movies reviews
    • New 24 hour
    • Economy
    • Politics
    • education
    • nature
    • Arts
    • fashion
    • education
    • History
    • cooking
    • Health
    • weather
No Result
View All Result
New 24 Hour
No Result
View All Result

Tesla’s market capitalization reaches $1 trillion for the first time as Hertz announces plans to purchase 100,000 electric cars.

Tesla's market capitalization reaches $1 trillion for the first time as Hertz announces plans to purchase 100,000 electric cars.

4633

Tesla’s market capitalization reaches $1 trillion for the first time as Hertz announces plans to purchase 100,000 electric cars.

Tesla Inc. shares hit a new high on Monday, and the electric-car maker’s worth was only a few billion dollars shy of $1 trillion, after Hertz Global Holdings Inc. revealed intentions to acquire 100,000 Teslas and a Morgan Stanley analyst boosted his sales and production prediction.

Tesla‘s stock TSLA gained more than 6%, putting it on course for another record and its largest one-day percentage gain since April 13, when it gained over 9%. The company’s market capitalization has surpassed $961 billion. For the company’s worth to reach $1 trillion, the shares must finish at or above $995.75.

more on new 24 hour : After a turnover, the Tampa Bay Buccaneers defense does a ‘row the boat’ celebration

Tesla's market capitalization reaches $1 trillion for the first time as Hertz announces plans to purchase 100,000 electric cars.
Tesla’s market capitalization reaches $1 trillion for the first time as Hertz announces plans to purchase 100,000 electric cars.

The stock has risen more than 12% in the last four sessions

including a 5.1 percent surge in the previous two days to set back-to-back highs. It gained 7.9 percent last week, marking its ninth consecutive weekly gain, the longest such record since a 12-week winning streak that ended in February 2020.

Hertz emerged from bankruptcy last summer, declaring that it was a “far stronger” corporation eager to profit on the summer’s tourism recovery and increasing car-rental costs due to a lack of rentals.

Hertz stated this week that it intends to issue stock and return to a major stock market. The corporation reported a profit for the first half of the year, but it also owed more than $8 billion.

Hertz said that a “initial” purchase of 100,000 Teslas would be placed before the end of 2022. In addition, the car-rental firm said that it will invest in new EV charging infrastructure throughout its worldwide operations in order to provide the biggest EV rental fleet in North America.

Bloomberg first reported the order earlier Monday.

Hertz HTZZ, +8.14 percent shares rose 11.6 percent, on pace for the biggest close since the firm emerged from bankruptcy.

“While Hertz is still in the early stages of electrifying its rental vehicle fleet, Tesla receiving an order of this scale illustrates the wider EV adoption underway in our view as part of this incoming green tidal wave currently reaching the United States,” analyst Dan Ives said in a client note.

“The Hertz transaction is a’major feather in Tesla‘s crown,’ he added, and speaks to where demand is headed in the EV transition affecting the auto industry worldwide.” Ives rates Tesla as outperform, with a stock price objective of $1,100.

GOAT’s recognize GOAT’s. Introducing our all new EV fleet (@TomBrady not included) #Hertz #LetsGo pic.twitter.com/TElSE2PDKb

— Hertz (@Hertz) October 25, 2021

Morgan Stanley analyst Adam Jonas boosted his price objective on Tesla shares to $1,200 from $900 in a report Monday. He reaffirmed the stock’s equivalent of a buy rating.

“The adjustment in (pricing) aim is mostly driven by increasing volume,” Jonas said. Morgan Stanley’s prior prediction of 5.8 million cars by 2030 represented a 23 percent annual growth rate, which he noted behind total EV market growth.

The analyst’s reduced volume prediction of 8.1 million cars by 2030 units suggests a 28 percent annual growth rate, which is somewhat more than half of Tesla‘s intended 50 percent growth rate.

Continued supply-chain restrictions, infrastructural limits, and “a variety of competitive and geopolitical considerations that will govern the development of national electric transport ‘utilities’ over time,” according to Jonas, are reasons for not going with the 50 percent growth rate.

Tesla has hiked the cost of select trims for each of its cars in the United States once again, including a $2,000 price increase for a standard-range Model 3.

“The recurrent price hikes reflect high customer demand for Tesla‘s automobiles, as seen by the increased wait time for delivery on several variations,” Deutsche Bank’s Emmanuel Rosner said in a note Monday.

Tesla Inc. announced quarterly profit and sales on Wednesday, while warning investors that semiconductor shortages, port congestion, and other supply-chain and infrastructural issues are keeping its plants from operating at full capacity.

Meanwhile, Hertz announced a partnership with Tom Brady to promote its electric vehicle campaign.

“Electric cars are already mainstream, and we’ve only just started to witness increased worldwide demand and interest,” said Mark Fields, interim CEO of Hertz. “The new Hertz will lead the way as a mobility company, beginning with the largest EV rental fleet in North America and a commitment to grow our EV fleet and provide the best rental and recharging experience for leisure and business customers around the world,” said Fields, a former Ford Motor Co. F executive. -2.06 percentage

Hertz announced its customers would be able to rent a Tesla Model 3 at certain sites starting in early November, with plans to extend through the end of the year. In addition, the firm is deploying chargers across its networks, providing customers who rent EVs with access to 3,000 supercharging stations throughout the United States and Europe.

Tesla‘s stock is up 47.4% year to far, while the S&P 500 index SPX, +0.60 percent is up 21%.

more from site news24

  • Elon Musk’s Tesla Bot: Is Westworld Coming Soon?
  • Tesla (TSLA) Q2 2021 earnings preview: here’s what specialists are looking ahead to
  • Tesla to ‘hopefully’ launch the Model 3 in India this summer: Elon Musk
  • The Shiba Inu Tweet from Elon Musk isn’t driving up the price of SHIB.
  • After a tweet from Elon Musk drove the dogecoin offshoot soaring

source : Tesla sets sights on $1 trillion valuation after Hertz’s plan to buy 100,000 Tesla EVs

 

Related

Share187Tweet117SharePin46ShareShare33

Related Posts

Arlington 1 student was killed and another wounded
news

Arlington 1 student was killed and another wounded in a shooting at Lamar High School in Arlington, and the suspect has been taken into custody.

Aaron Rodgers discusses his future as trade rumors heat up
Sport

Aaron Rodgers discusses his future as trade rumors heat up

Pete Davidson
Biography

The Rise and Success of Comedian Pete Davidson: From SNL to Smartwater

Return of Buzz and Woody in Disney's Newly
Entertainment

Toy Story 5: Return of Buzz and Woody in Disney’s Newly Announced Sequel

Load More
New 24 Hour

© 2018 new 24 hour

Navigate Site

  • My account
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

Follow Us

No Result
View All Result
  • news
  • Cinema news
  • Sport
  • cryptocurrency news
  • Entertainment
  • Biography
  • Economy
  • History
  • weather
  • Arts
  • Story
  • fashion
  • education
  • nature
  • weather
  • Arts
  • Gaming
  • government
  • cooking

© 2018 new 24 hour

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.