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<blockquote data-quote="Weather Man" data-source="post: 16529349" data-attributes="member: 137766"><p><span style="font-size: 22px"><strong>Tesla up more than 6% and almost adds a Ford to its market cap</strong></span></p><p>Nov. 23, 2020 2:56 PM ET|About: <a href="https://seekingalpha.com/symbol/TSLA" target="_blank">Tesla, Inc. (TSLA)</a>|By: <a href="https://seekingalpha.com/author/sa-editor-clark-schultz" target="_blank">Clark Schultz</a>, SA News Editor </p><p></p><p></p><p>In almost ho-hum fashion. Tesla (NASDAQ:<a href="https://seekingalpha.com/symbol/TSLA?source=news_body_link" target="_blank">TSLA</a>) is up 6.62% on volume of over 40M shares and cruised to a new high of $525.15 earlier in the session.</p><p></p><p>Not looking to take any cheap shots at Ford (NYSE:<a href="https://seekingalpha.com/symbol/F?source=news_body_link" target="_blank">F</a>), but today's market cap gain for Tesla isn't all that far off from the total market cap for the Blue Oval of ~$35B.</p><p></p><p>The two bigger stories of the day are that Tesla says it will push out a new software update in response to the hack over the weekend and LG Chem is reportedly set to <a href="https://electrek.co/2020/11/23/tesla-secures-battery-cell-supply-from-lg-chem-model-y-production-china/?source=news_body_link" target="_blank">supply battery cells</a> for the Model Y in China.</p><p></p><p>There is also plenty of general enthusiasm over the impact of a Biden administration for the EV sector and hopes that EV sales in China will accelerate with the support of Beijing. On the latter note, Wedbush Securities analyst Dan Ives thinks China presents eight to nine times the opportunity for EVs in the near-term as sales in the U.S. Even Citron's Andrew Left sees upside in China for many EV players, with the wide range of incomes allowing companies to attack different <a href="https://www.cnbc.com/2020/11/23/chinese-ev-rivals-line-up-to-challenge-tesla-on-their-home-turf-.html?source=news_body_link" target="_blank">price points</a>.</p><p></p><p>Earlier: <a href="https://seekingalpha.com/news/3638580-tesla-gains-after-wedbush-points-to-major-inflection-of-global-ev-demand?source=news_body_link" target="_blank">Tesla gains after Wedbush points to major inflection of global EV demand</a> and e<a href="https://seekingalpha.com/news/3638678-electric-vehicle-names-head-higher-led-kandi-kndi-stock-ayro-and-li-auto?source=news_body_link" target="_blank">lectric vehicle names head higher led by Kandi, Ayro, and Li Auto</a></p></blockquote><p></p>
[QUOTE="Weather Man, post: 16529349, member: 137766"] [size=6][b]Tesla up more than 6% and almost adds a Ford to its market cap[/b][/size] Nov. 23, 2020 2:56 PM ET|About: [URL='https://seekingalpha.com/symbol/TSLA']Tesla, Inc. (TSLA)[/URL]|By: [URL='https://seekingalpha.com/author/sa-editor-clark-schultz']Clark Schultz[/URL], SA News Editor In almost ho-hum fashion. Tesla (NASDAQ:[URL='https://seekingalpha.com/symbol/TSLA?source=news_body_link']TSLA[/URL]) is up 6.62% on volume of over 40M shares and cruised to a new high of $525.15 earlier in the session. Not looking to take any cheap shots at Ford (NYSE:[URL='https://seekingalpha.com/symbol/F?source=news_body_link']F[/URL]), but today's market cap gain for Tesla isn't all that far off from the total market cap for the Blue Oval of ~$35B. The two bigger stories of the day are that Tesla says it will push out a new software update in response to the hack over the weekend and LG Chem is reportedly set to [URL='https://electrek.co/2020/11/23/tesla-secures-battery-cell-supply-from-lg-chem-model-y-production-china/?source=news_body_link']supply battery cells[/URL] for the Model Y in China. There is also plenty of general enthusiasm over the impact of a Biden administration for the EV sector and hopes that EV sales in China will accelerate with the support of Beijing. On the latter note, Wedbush Securities analyst Dan Ives thinks China presents eight to nine times the opportunity for EVs in the near-term as sales in the U.S. Even Citron's Andrew Left sees upside in China for many EV players, with the wide range of incomes allowing companies to attack different [URL='https://www.cnbc.com/2020/11/23/chinese-ev-rivals-line-up-to-challenge-tesla-on-their-home-turf-.html?source=news_body_link']price points[/URL]. Earlier: [URL='https://seekingalpha.com/news/3638580-tesla-gains-after-wedbush-points-to-major-inflection-of-global-ev-demand?source=news_body_link']Tesla gains after Wedbush points to major inflection of global EV demand[/URL] and e[URL='https://seekingalpha.com/news/3638678-electric-vehicle-names-head-higher-led-kandi-kndi-stock-ayro-and-li-auto?source=news_body_link']lectric vehicle names head higher led by Kandi, Ayro, and Li Auto[/URL] [/QUOTE]
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