Tesla’s shares surge on Apple speculation image

Yesterday we told you about a report that had Tesla’s CEO Elon Musk talking last year to Apple’s mergers and acquisitions chief. Now, thanks in part to the “Apple speculation”, the stock has again risen to record heights.

The San Francisco Chronicle, citing an undisclosed person familiar with the matter, reported that Apple’s Adrian Perica and Tesla’s chief executive officer and co-founder Elon Musk met in early 2013 to discuss a possible tie-up.

The Tesla stock surged 2.8% to $203.70 in New York, the highest ever closing price for the electric carmaker – which has become a textbook case on how a start-up can over perform – with the automaker’s shares rising more than fivefold in the past 12 months.

“There’s no indication” an acquisition is a serious possibility now, said James Albertine, an analyst with Stifel Nicolaus & Co.

The recent share rise can also be accounted to the approaching Tesla conference call, where the company is expected to post positive fourth-quarter results, according to analysts.

Via Bloomberg