Tesla’s stock set to extend gains above $2,000, while peers and the broader market are falling
Shares of Tesla Inc.
TSLA,
rallied 1.6% in premarket trading, to extend the recent run up to their first-ever close above the $2,000 mark, and to buck the weakness seen in its peers and the broader stock market. The electric vehicle maker’s stock shot up 6.6% on Thursday to close at a record $2,001.83, just 50 days after it first closed above $1,000 on June 10. Tesla’s stock is standing out Friday, as shares of fellow EV makers Nio Inc.
NIO,
shed 0.8% in the premarket and of Nikola Corp.
NKLA,
lost 0.5%. The broader market was also taking a hit, as futures
YM00,
for the Dow Jones Industrial Average
DJIA,
shed 104 points, or 0.4%, with 27 of 30 components losing ground ahead of the open. As of Thursday’s close, only four Dow components had market capitalizations that were above Tesla’s $373.06 billion.
