Tesla shares rise in the premarket on Wall Street, increasingly in the spotlight due to the gains reported in the last period: the prices of the electric car giant founded by Elon Musk have risen for eight consecutive weeks, confirming the strongest bullish phase from the period before the Covid-19 pandemic. The stock has rallied by as much as 50% from the low tested on March 8, at $ 563.
The comeback makes Tesla the sixth largest US company listed on Wall Street, well ahead of Berkshire Hathaway, the holding company created by Warren Buffett.
In a note, Wedbush analyst Daniel Ives wrote that he believes that “the green wave will drive the stock to higher values despite the short-term crisis in the chip supply and thanks to the publication, this week, of the related budget. to the third quarter, which will represent another positive factor “.
Tesla stock is up nearly 1% above $ 850.
A compliment to Musk and his team came from Herbert Diess, president of Volkswagen AG, with a post on LinkedIn. “An example of Tesla’s speed: it managed the chip crisis very well.” The reason? So Diess: “In the space of 2-3 weeks he developed a new software that allows you to use different chips. Impressive.”