With Tesla's stock soaring and oil prices falling, it's clear the market no longer sees Tesla as just an alternative to gas
The main selling point of Tesla cars has always been that they are electric, powered by batteries which are charged from the grid. Tesla owners do not fuel their cars at the gas pump, of course. So, it would make sense that the prospects for Tesla as a firm would rise when oil become more expensive, and vice versa. 2020 has shown conclusively that this is not the case. Tesla is no longer identified as a car company that does not use gasoline....
2017. China is gearing up to ban petrol and diesel cars, a move that would boost electric vehicles and shake up the auto industry in the world's biggest but pollution-plagued market. The plan would follow decisions by France and Britain to outlaw the sale of such cars and vans from 2040 to clamp down on harmful emissions. / AFP PHOTO / GREG BAKER Since the start of 2020, Tesla stock has risen from about 430 to about 775. That is a jump of almost 80%—in less than one and a half months.
has fallen from about $61 to about $51 in that time frame, often going below $50. That is a cumulative drop of more than 16%.
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