Shares of Tesla Inc. (TSLA) rallied 1.6% in premarket trading, to extend the recent run up to their first-ever close above the $2,000 mark ( ), and to buck the weakness seen in its peers and the broader stock market. The electric vehicle maker's stock shot up 6.6% on Thursday to close at a record $2,001.83, just 50 days after it first closed above $1,000 on June 10. Tesla's stock is standing out Friday, as shares of fellow EV makers Nio Inc. (NIO) shed 0.8% in the premarket and of Nikola Corp. (NKLA) lost 0.5%. The broader market was also taking a hit, as futures for the Dow Jones Industrial Average shed 104 points, or 0.4%, with 27 of 30 components losing ground ahead of the open. As of Thursday's close, only four Dow components had market capitalizations that were above Tesla's $373.06 billion.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
August 21, 2020 08:50 ET (12:50 GMT)
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