At the close of trading on Tuesday, Tesla’s share price rose 8.6% to $762.32, a record high since February 19, and its market value was back at $700 billion. Earlier, analysts at investment bank Canaccord Genuity said that as Tesla increases its focus on energy production and energy storage, the company known for its electric vehicles will “attack and conquer” another trillion-dollar market.
Canaccord analyst Jed Dorsheimer upgraded Tesla’s stock rating from “Hold” to “Buy” and raised the target price from US$419 to US$1,071. It is estimated that by 2025, Tesla’s energy production and energy storage divisions will generate 80%. Billion dollars in revenue.
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In addition, on the news, the cryptocurrency trading platform Binance previously announced the launch of a zero-commission tradable equity token called Binance Stock Tokens (BST), allowing users to trade scattered stocks. Among them, Tesla will be the first equity token to be listed, and some trading will be opened on the platform on April 12.
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