The rise of US technology companies' shares after falling bond yields led to a rise in Tesla shares by nearly 20%, nearly wiping out five consecutive days of losses.
According to ArabiaNet, Tesla is still down about 25% from its all-time high of $ 900 per share on January 25.
This enthusiastic rise led the fortune of the company's founder, Elon Musk, to increase by more than $ 25 billion in one session, to reach $ 174 billion, according to the Bloomberg Billionaires Index, reducing the difference between them and the richest person in the world, founder of Amazon, Jeff Bezos to 6 billion Only dollars.
and supported sales data published by the Chinese Passenger Car Association in raising Tesla's share price, after passenger car retail sales in February 2021 in China more than quadrupled to reach To about 1.2 million cars compared to February 2020 numbers.
Meanwhile, Elon Musk's Tesla company has sold 18,318 cars of the 3 and Ys models made at its Shanghai car factory in China.
On March 3, UBS analysts raised the target price within 12 months for Tesla shares from $ 325 to $ 730, saying they expect Tesla to make more money from apps in the coming years, according to CNBC, and seen by Al Arabiya.net.
On the other hand, Cathy Wood did not miss the opportunity, as 3 funds of her company Ark Investment bought up to 100,000 shares of Tesla on Friday to take advantage of the decline.
