[Asia Economy New York=Correspondent Baek Jong-min] The stock price of Tesla, a U.S. electric vehicle company heavily purchased by Seohak ants, surpassed $900, reaching an all-time high. Analysts say the possibility of Tesla hitting a $1,000 stock price and realizing the 'Cheon-sla' is increasing.
On the 22nd (local time), Tesla's stock price closed at $909.68, up 1.75%. During the session, it reached $910, marking a 52-week high. This is the first time Tesla's stock price has exceeded $900 since January. Tesla's price-to-earnings ratio (PER) rose to 111 times.
Investment media Barron's reported that Tesla's market capitalization is three times that of Toyota and accounts for 35% of the market capitalization of all automobile companies worldwide.
Tesla has been on a rising trend since September, boosted by the Bitcoin rally, and has expanded its upward momentum after announcing strong third-quarter earnings.
Tesla's market capitalization also reached $905 billion (1,059 trillion KRW), moving forward toward joining the trillion-dollar club.
Tesla's market capitalization even surpassed Facebook's market cap during the session. Unlike Tesla's stock price rise, Facebook fell 6.1%, influenced by a 25% plunge in competitor Snap's stock price, significantly narrowing the gap between the two companies.
Despite the semiconductor chip supply shortage, Tesla achieved a record high with a net profit of $1.62 billion in the third quarter, leading Wall Street to raise its target stock prices, supporting the possibility of Cheon-sla.
Wedbush Securities raised Tesla's target stock price from $1,300 to $1,500. Gary Black, Future Fund manager, also predicted Tesla's stock price would exceed $1,000 next year.
Credit Suisse evaluated that Tesla is relatively less affected by the semiconductor shortage because it develops its own firmware.
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