There could be exponential growth ahead for Tesla and SpaceX, billionaire investor Ron Baron says.
of $949.92 on Monday after opening at $919, partly in response to electric vehicle sales data out of China for the month of May.
According to the China Passenger Car Association, Tesla sold 11,095 of its made-in-Shanghai Model 3 electric sedans to China-based customers in May,Overall, Tesla vehicle sales in China increased by 205% from a slump in April attributed to Covid-19 impacts on consumers and businesses in China Baron's eponymous investment firm, with over $32 billion in assets under management, holds more than 1.6 million Tesla shares. They were purchased at an average cost per share of $219.02, according to the firm. It also owns 814,595 shares of SpaceX, which it first purchased in September 2017. The firm most recently increased that stake in December.
SpaceX founder Elon Musk gestures to the audience after being recognized by U.S. President Donald Trump at NASA's Vehicle Assembly Building following the successful launch of a Falcon 9 rocket with the Crew Dragon spacecraft from pad 39A at the Kennedy Space Center.Baron, CEO and chairman of Baron Capital, said Tesla shares have quadrupled for the firm.
Baron Capital's portfolio is up 8% to 9% this year, according to the firm. Other major stakes include 7.4 million shares of
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