Business
Elon Musk stops critics in tracks with $250 billion fortune – Sydney Morning Herald
The newly crowned richest man in the world has shrugged off the accolade, but his ride up the billionaire’s list has caused some former critics to perform a U-turn….
Its share price is at a record $US816.04, propelled to new heights courtesy of RBC Capital Markets analyst Joseph Spak, a long-time critic, admitting he was wrong on Tesla.
“There is no graceful way to put this other than to say we got Tesla’s stock completely wrong,” he wrote in a report lifting Tesla to “sector perform”.
Spak’s change of heart is based on two things. First, Tesla has shown in 2020 that it can raise money from the market, some $US15 billion, to keep its engine running.
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