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Two reasons have stimulated Tesla's recent stock price surge. On the one hand, the financial report data exceeded expectations, and on the other hand, it was an unexpectedly large order.
The financial report for the third quarter showed that its total revenue in the third quarter was US$13.757 billion, a year-on-year increase of 57%; in terms of net profit, it was US$1.618 billion, a year-on-year increase of 389%. Earnings per share were US$1.44, an increase of 433% over the same period last year.
It took only 18 years for Tesla to break through a trillion dollars in market value. On the 22nd, Standard & Poor's upgraded Tesla's long-term rating from BB to BB+, which is still junk. At the beginning of this year, there was frequent negative news about Tesla, deep in disputes over accidents, and frequent news about brake failure and spontaneous battery combustion. The stock price also fell from a maximum of nearly 800 US dollars to 550 US dollars.
Looking at the trend of Tesla's stock price, it is surprisingly consistent with Bitcoin. It happened that Bitcoin just hit a record high in mid-October.
Mid-October is the day when the entire currency circle is boiling. After less than half a year of silence, Bitcoin once again set a record high price, reaching 66974 US dollars. Alexander Hoptner, CEO of BitMEX, pointed out that Bitcoin is expected to exceed $100,000 by the end of the year.
Before this, the first US ProShares Bitcoin Strategy ETF (trading symbol BITO) was successfully launched. Assets increased to 1.1 billion U.S. dollars within two days of the transaction, and the first day's trading volume reached 1 billion U.S. dollars, setting a second-highest level in history.
Some analysts believe that Bitcoin is a digital gold that can cushion the risk of inflation. However, some analysts pointed out no correlation between inflation and Bitcoin, and Bitcoin does not have any real asset endorsements. Therefore, even if there is super inflation, Bitcoin may fall to zero.
Musk himself is also a speculator of coins. Tesla's three quarterly reports show that he currently holds more than 40,000 BTC, and the cost of a single currency is about 30,000 US dollars. Now his investment has doubled, and his profit has exceeded 1 billion dollars. If the Bitcoin market continues until the end of December, Tesla's Four Seasons report will almost "lie down."
There are too many similarities between the growth paths of Bitcoin and Tesla, which were once not understood by most people, and the price trend is also twists and turns. Tesla used to be the company with the most short-selling in US stocks. Supervision is strictly restricted. But they also have huge differences. Tesla has developed to the present test of actual performance, and the company has indeed generated profits, while Bitcoin tests pure belief. After all, it does not produce any value by itself because It is scarce and speculative.
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