Tesla Surpasses $900 for the First Time, Racing Toward 'CheonTesla' Milestone

[Image source=AP Yonhap News]

[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.

This content was produced with the assistance of AI translation services.