Tesla shares have seen a stratospheric rise this year, with the electric car maker now having a market cap of $590 billion. Amidst this immense growth, as well as its impending inclusion into the S&P5 500 index, Tesla may very well be poised to become a macro driver of sorts next year.
In a recent note, Deutsche Bank strategist Jim Reid stated that it is pretty obvious that Tesla’s performance in the stock market has particularly stood out in 2020. “It has increased +704% and is now larger than the next five largest global auto companies combined,” Reid remarked.
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