Tesla Jumps 20% in a Day in 7 year High

Tesla Jumps 20% in a Day in 7 year High

Crypto and CFD trading platform, eToro have noted the impressive growth in the last 24 hours of the car manufacturer and energy firm, Tesla as it seems like the perfect time to get involved in their stocks.

At the time that eToro shared the news of the rapid growth, Elon Musk’s company had grown by as much as 20%. Since then that it has grown further by nearly 5% and at the time of writing, it is stationed at the 24.52% mark. In terms of value, each individual stock has grown by €165.90 meaning that they are now valued at €842.40 apiece. In terms of the price history, this has meant that the last 24 hours have been the largest one day move since as far back as 2013. Thus, it is a monumental growth in a very short space of time.

However, as we mentioned last week, this growth has not come out of nowhere and it has been steady for the past month and in total, it is up by 73% since the start of the year. While its growth over the last 3 months is almost double that figure and sits at 146%.  

Thanks to this, Tesla’s market cap is now above the $140bn mark. This is mostly owed to the rollout of two new vehicles, the Model S and Model X. Particularly the former of these two products with the vehicle making up 80% of the company’s production in the last quarter of 2020.  

As a result of this growth, those who have bet against are said to have lost around $2.5bn yesterday and as this exponential growth continues that money is racking up. This large value is due to the fact that Tesla is one of the most shorted stocks there is on the market right now.

However, with figures like this in a rapid space of time and the risky strategy by these investors failing to pay off, there may be a changing of tides in regards to this before long. Particularly because Tesla seems all about heading onwards and upwards though and have set their sights on selling more than 500,000 vehicles in 2020.

This growth for the electric car company comes as a paradox to the movement from one of the world’s largest oil and gas companies, BP. The supermajor saw a drop in their fourth-quarter profits of 26%. However, despite this, the company still beat forecasts and perhaps this is why the company will be raisings its dividend payouts, according to eToro. In what was the departing gesture from their vacating chief executive, the dividend has jumped 2.4% to 10.5 cents per share.

Last quarter, the UK firm acquired $2.57 billion in their key company metric– underlying replacement cost profit- in the fourth quarter of 2019. This was despite predictions that it would only reach $2.1 billion and the fact in the latter end of last year there was a price slump for oi. Although this was not a complete reason to celebrate for the firm though as this figure was still down over a billion dollars from $3.5 billion a year earlier.

There could be even larger problems for them very soon though because as we reported yesterday, the main importer of oil in the world, China, is currently being massively affected by the Cornoavrius, which could cause them further issues before long. However, the fall-out from this seems to be cooling so there is still time for the situation not to turn out as bad as once feared.

If you an interested in trading either of these energy options, as well as crypto assets and more, head over to eToro now to begin trading,

Recently Similar News

casinoin-promotion etoro-promotion

Latest Guides

Latest News

Bitcoin,Casino,casinos,Gambling

Bitstarz Casino Offers New Welcome Package

Bitstarz Casino has started offering a welcome package for new and first time users for a total of €500 or 5 BTC plus 180 free spins . For first time deposits, Bitstarz is offering a 100% match of up to €100 or 1 BTC. You will also get 180 free spins and a choice of 3 different games […]

14 July, 2020
Binance,Blockchain,Exchange Platforms,Trading

Binance US Introduces Staking Options for Vechain

According to the official announcement made by Binance, VET staking has been continuously requested by the Vechain Community. Vechain, the blockchain as a service, supply chain focused protocol has been listed on Binance US to allow staking of Vechain on their US accounts. Vechain has been all over the news in the cryptospace in the […]

14 July, 2020
Blockchain,Crypto Wallets

700,000 FIO Tokens Up For Grabs with Guarda

The crypto wallet, Guarda have announced a new promotion that revolves around FIO where 700,000 of the tokens will be made available. These tokens will be distributed among a large number of users who attempt to learn more about FIO and then answer some questions about the token. 200,000 of these will be part of […]

12 July, 2020
Crypto Wallets,Cryptocurrency,Security

Firmware Update Available for Ledger Nano X

For the first time since its release, the Ledger Nano X has had its firmware update that aims to improve the functionality of the crypto wallet. The Ledger Nano X has been available to traders for over a year now and has proven to be a big hit in the crypto community and often cited […]

12 July, 2020
CFD Trading Platform,IQ Option,Trading

Using the “Scalping” Method with IQ Option

In their new guide, IQ Option have guided users in the pursuit of using the scalping method when trading with various assets. The method is one that is widely popular and can be applied to dozens of situations. It is especially used by traders who might be just starting out trading and or day traders […]

11 July, 2020
AvaTrade,CFD Trading Platform,Investment

AvaTrade Launch AvaProtect on Desktop

AvaTrade’s much sought-after AvaProtect service has now launched on desktop. The service which, as the name suggests, protects your trades was already available on mobile on the AvaTradeGO app. This meant that those who used AvaTrade on their desktop were not able to benefit from the perks that it offers. Specifically, that for a small […]

11 July, 2020
Casino,Promotion

Daily Drops & Wins Extended at Monte Crypto Casino

Fans of the on-going Daily Drop and Wins tournaments hosted by Pragmatic Play, can rejoice as it has been extended now until the 10th February 2021. The competition had been on-going since as far back as March but was scheduled to end this month. However, due to its popularity, it will remain on many casinos […]

10 July, 2020
block,Exchange Platforms,Smart Contracts

DeversiFi Launch New Smart Contract Insurance

DeverisFi now offers insurance on Smart-Contracts that are taken out via the platform. Smart contracts are an important part of the blockchain industry. As is security. Hence why this move will be welcomed by traders who regularly look to DeversiFi for their smart contracts. Already DeversiFi users could benefit from hefty audits on their smart […]

9 July, 2020