Tesla Motors Inc (NASDAQ:TSLA), Facebook Inc (NASDAQ:FB) and Google Inc (NASDAQ:GOOG) are the stocks to watch today as all three closed out Monday’s trading day at record highs. In premarket trading this morning, shares of Tesla continued to climb, rising as much as 7% as investors anticipate this week’s conference call about the gigafactory.
Tesla still surging
Tesla Motors Inc (NASDAQ:TSLA) rose 4% on Monday, closing at $217.65 a share. Already this year, the automaker’s stock has climbed more than 45%. This morning the stock looks poised to open above $230 a share, which would be yet another new record high. To put this into perspective, Tesla shares closed at around $34 a share a year ago.
The following is our rough coverage of the 2021 Sohn Investment Conference, which is being held virtually and features Brad Gerstner, Bill Gurley, Octahedron's Ram Parameswaran, Glenernie's Andrew Nunneley, and Lux's Josh Wolfe. Q1 2021 hedge fund letters, conferences and more Keep checking back as we will be updating this post as the conference goes Read More
At this point, Tesla Motors Inc (NASDAQ:TSLA)’s market capitalization is a little under half that of General Motors Company (NYSE:GM), which has a market cap of around $58 billion. Ford Motor Company (NYSE:F)’s market cap is nearly $60 billion. Tesla’s market cap, however, is approaching $27 billion as more and more exuberant investors climb on board what has become a wild ride.
Many analysts just can’t get past Tesla Motors Inc (NASDAQ:TSLA)’s exorbitant valuation. However, others are convinced that the automaker is a disruptive force that just won’t quit. Indeed, the company seems to be in the process of revolutionizing the auto industry, and if CEO Elon Musk’s track record is anything to go by, Tesla looks poised for tremendous success.
Google, Facebook remain solid
Both Google Inc (NASDAQ:GOOG) and Facebook Inc (FB) rose less than 1% in premarket trading this morning. Last night, Google’s share price edged upward approximately 1%, closing the trading day at $1,213. The search giant’s stock has also continued its hot streak this year, rising 8% since the start of the year and adding about another $1 to its valuation overnight.
Shares of Facebook Inc (NASDAQ:FB) rose more than 3% on Monday, closing out trading at $70.78 a share. The social network’s stock has risen 30% so far this year as investors have begun to come around to the company’s business model and see it as a profitable one.