Why BlackRock May Be About to Pump Tesla (TSLA) Stock to the Moon, Crypto Coins News

BlackRock CEO Larry Fink has indicated the $ 7 trillion asset manager intends to divest from fossil fuels to greener investments amid a “climate crisis.”
Already a large holder of Tesla stock, this could see the world’s largest holder of fossil fuels invest more heavily in Elon Musk’s buoyant EV manufacturer.
Currently trading over $ per share, Jim Cramer believes TSLA is Fink’s “ultimate stock.”

Tesla (NASDAQ: TSLA) stock has been on a historic tear. TheEV manufacturer’s market-cap is almost at $ billion, and it is basking in the warm glow of strong growth prospects and risk-on trading conditions in the US stock market.

Things could still get even better for Elon Musk. The world’s largest asset manager, BlackRock, announced a shift towards sustainable investments. And TSLA might just be the firm’s new crown jewel.

Larry Fink Makes Seismic Change to BlackRock’s Investment Focus

BlackRock and Larry Fink could send Tesla stock even further into the stratosphere. | Source: AP Photo / Mark Lennihan
BlackRock manages an eye-watering $ 7 trillion fortune and oversees a portfolio that is heavily invested in fossil fuels. That’s about to change.

In his
****** CEO letter, BlackRock chief executive Larry Fink announced the “climate crisis” as the catalyst for the stock market behemoth’s planned re-allocation,stating,

We will see changes in capital allocation more quickly than we see changes to the climate itself. In the near future – and sooner than most anticipate – there will be a significant reallocation of capital.

He was careful not to state there was going to be a

total

divestment from oil companies. This would be very impractical from a liquidity standpoint.BlackRock invests more in fossil-fuel reserves than anyone else in the world.

Tesla Stock Is An Ideal Alternative To Fossil Fuels

This commitment to “green” investing, suddenly leaves Tesla front and center as the perfect option for BlackRock to increase their exposure to sustainable investing.

Elon Musk made it clear from day one that his vision revolved around electric cars powered by energy harvested from the sun with solar panels.

Mad Money host Jim Cramer believes that Tesla stock is the ideal place for BlackRock’s divested oil money to flow into.

Cramer went so far as to call the EV manufacturer “Larry Fink’s ultimate stock.”

This is heady praise considering BlackRock’s titanic AUM figure.

It doesn’t hurt that Larry Fink is already one of the largest owners of TSLA stock, andrecently upped his holdings by 5. (**************************************************************% in November last year. Of course, Fink isn’t necessarily a fan of Elon Musk, asBlackRock voted to oust the mercurial billionaire from his role as chairman in.

$ Billion of Oil, Coal, & Gas to Reallocate

So how much money can flow out of the pipeline and into Tesla stock? A lot.

In 227913, theasset manager had around $ 90 billion worth of assetsin oil, coal, and gas. This is only slightly less than TSLA’s entire market cap, highlighting how much capital could be re-deployed at Fink’s command.

BlackRock has reportedlylost $ 90 billion investing in fossil fuels over the last decade, so don’t be fooled that Larry Fink hasa sudden desire to help save the koalas.

Tesla Stock’s Parabolic Arc Continues

Currently riding parabolic arc, Tesla stock is at all-time highs. The run-up appears to have been mostly fueled bya genuinely-historic short squeeze..********** (A A multitude of factors helped Tesla (NASDAQ: TSLA) soar to record highs. | Source:Yahoo Finance

It’s Also possible that word had gotten out on Wall Street about BlackRock’s upcoming shift, or even that the $ 7 trillion behemoth has wisely covertly started re-deploying its cash.

While it isn’t clear precisely what has happened in the market, two things are apparent. Tesla stock is the perfect target for Fink’s push into more sustainable investments, and there is more than enough fossil fuel money on hand to drive an already-elevated TSLA to the moon.

Disclaimer: This article represents the author’s opinion and should not be considered investment or trading advice from CCN. com.

This article was edited by

************************ Josiah Wilmoth

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Last modified: January (**************************************************************, ********************************************** 6: (PM UTC) ********* (**************************************** (******************************************************************** (Read More) ******************************** (********************************************