Sunday 29 November 2020

Tesla also overtakes Buffett on Wall Street, now only the 5 Big Tech are worth more

Piazza Affari positively archives the last session of a week that saw the Milan Stock Exchange stretch its positive streak again. The Ftse Mib closed at 22,351 points, with a progress of 0.68% that brings the balance to over +24% from the beginning of the month when there is now only one session left at the end of November.



In Italy, the Btp auction saw new historical lows for 5-and 10-year Btp rates, falling to 0.01% and 0.59% respectively.

Among the big ones in Piazza Affari, the positive moment is confirmed for Telecom Italia, which again took forward a further +1.57% with quotations returned well above the threshold of 0.40 euros with a balance of almost +40% in the last month. Keep waiting for an unblocking of the unique network dossier. Infratel allegedly sent a letter to Open Fiber about the delays in the implementation of the FTTH coverage plan. "The intervention of Infratelcreates further pressure on OF and indirectly on ENEL to accelerate the rete unica project, a positive catalyst for TIM", the experts of Equita SIM point out.

Sprint today for Hera, which gained 2.85% to 3,175 euros, closing ahead of the Ftse Mib. The Emilian utility yesterday placed on the market of Eurobonds a bond aimed at qualified investors of the nominal amount of 500 million euros and with a duration of 10 years that saw orders for 4 times the offer.

Among the banks stands out today Bper with +1,75% to 1,51 euro. Well also Intesa Sanpaolo with +0,8%.

On the opposite front instead, down Pirelli that yielded over 2 percentage points. Also bad Leonardo (- xxx%) with an article in La Stampa that talks about slowdowns in the process relating to a potential maxi-order that would include 24 Eurofighters in addition to an unspecified number of M-346 flight trainers.
Tesla continues to grind records on Wall Street and still climbs the ranking in the gotha of the most capitalized securities. With the jump of about 4% ordierno, which projects the stock in the area 595 dollars (reached a record peak at 598,77 $), the market cap of the electric car giant jumped to about 562 billion dollars, surpassing that of Warren Buffett's Berkshire Hathaway in sixth place among the mega caps of Wall Street.
Tesla shares have risen more than 600% since the beginning of the year making Elon Musk the second richest person in the world behind Jeff Bezos.

The latest rumors reported yesterday by Reuters see Tesla poised to start producing electric vehicle chargers in China next year as part of its mission to boost sales in the Asian country. Tesla's domineering rally is not scratched by the indiscretion collected by the Afp agency, which cites the Chinese market authority, about the risk that Tesla will have to recall 870 Model X cars in China due to a problem in the roof covering. The risk is that some parts may fall creating a collision hazard on the road.

Tesla stock as of December 21 will become part of the S&P 500 index, a change that will force index funds to buy about.50 billion of its shares and Goldman Sachs estimated last week that actively managed mutual funds could buy another 8 8 billion.

No comments:

Post a Comment