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Shares of Tesla Inc. TSLA,
fell 2.1% in pre-market on Monday, putting them at risk of suffering their first drop in 12 sessions. The title had climbed 37.4% amid a record 11-day winning streak to close Friday at a record $ 880.02. Since the stock’s last drop on Dec. 22, the electric vehicle maker’s market cap has risen by more than $ 227 billion to $ 834.2 million, enough to make Tesla the fifth most valuable U.S. company. and managing director Elon Musk the richest person in the world. Wedbush analyst Dan Ives said in a note to customers that he believed China could see “booming demand” in 2021 and 2022, with Tesla’s flagship Giga 3 footprint being a “major competitive advantage” . Tesla stock has more than doubled (up 102.8%) in the past three months through Friday, while the S&P 500 SPX,
gained 10.0%.
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