The share of automaker Tesla has risen above 500 dollars (around 448 euros) for the first time after an analyst on Wall Street significantly increased his price target for the company. Since the summer, the share has risen by no less than 187 percent.
Just after the start of trading on Monday, the fund was 6 percent higher at nearly $ 510 per share. On December 19 the share was still at 400 dollars.
Analyst Colin Rusch on Monday raised his estimate of the Tesla share from $ 385 per share to $ 612. According to Rusch, Tesla has reached a critical limit so that the company can generate money more easily. This way Tesla can also better finance its own expansion.
The company also set a record on the stock exchange last week when it was worth more than $ 80 billion. This made Tesla more valuable than automakers Ford and GM combined.
At that time, Tesla was the main focus of attention because the group just met its own expectations in the fourth quarter. Tesla also supplied the vehicles produced in China for the first time.