NEW YORK, NY / ACCESSWIRE / May 31, 2017 / While many tech stocks have seen tremendous gains in 2017, including Apple and Facebook seeing an almost 33% climb in share price, and Google with a 26% climb, Amazon is the one that had everybody talking on Tuesday when it soared past $1,000 for the first time. Amazon's shares have also exploded this year to see a gain of 33%. Tesla's shares rallied as well on Tuesday and even hit a new record close as investors are eagerly still waiting for the company's Model 3 debut, which is on schedule for July.
RDI Initiates Coverage on:
Amazon.com, Inc.
https://ub.rdinvesting.com/news/?ticker=AMZN
Tesla, Inc.
https://ub.rdinvesting.com/news/?ticker=TSLA
Amazon.com, Inc. had something big to celebrate on Tuesday. The fact that the stock has beat Google into hitting the $1,000 share price threshold first. Amazon's shares climbed as high a $1001.20 in Tuesday trading, making it the first time shares have been over the $1,000 mark. The stock has been on a rampage so far in 2017, seeing share prices rise as much as 33%. The company has added around $120 billion to its market value and analysts still think there could be more in store. Analysts on average have a median price target of $1,100 on the stock. Tim Ghirskey of Solaris Asset Management commented, "The world is becoming more and more aware of how unstoppable the business plan is. The $1,000 is a bit of a psychological barrier for any stock, but it is just another number and we're still big believers in it."
Access RDI's Amazon.com Research Report at:
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Tesla, Inc.'s shares hit a new intra-day record price in Tuesday trading and also hit a new record close at $335.10. The last time the electric car maker had a record close was just this past Friday at $325.14. Elektrek, an electric car news site commented on the gains, "Tesla's short-term success is tied to the delivering and ramping up production of the Model 3 on time and as it gets closer to the scheduled start in July, investors seem to be encouraged by what they are seeing." The Model 3 is Tesla's highly anticipated more affordable version and is set to debut in July. The company just posted a comparison sheet a few days ago comparing the Model 3 to its Model S. This table pretty much proved that the Model S is a lot better but the Model 3 still features a 0-60MPH in only 5.6 seconds and has a more affordable price of $35,000 compared to the S at a start of $68,000. Shares of Tesla closed up 3.06% yesterday and even hit a new high of $336.28 during intra-day trading.