For the first time ever in its history, Tesla – the American automotive company – finished trading day with a market cap of greater than $100 billion. In the process, it became the first publicly listed car maker in the United States to do so.
It also exceeding the market value of Volkswagen and was trailing only behind Toyota Motor Corp, which has a market cap of $230 billion.
Tesla’s stock surged more than 8 per cent, pushing its market cap to a whopping $107 billion before settling in with a market cap of $102.7 billion at the end of yesterday.
Despite some roadblocks and turbulent times in 2019, Tesla has delivered a whopping 367,500 cars last year, 50 per cent more than what it had the year before. And while this is way below its competitors, Tesla has significantly surpassed its own records. Tesla’s stock price has also surged since the last quarter of last year, where it reported a quarterly profit.
Headquartered in Palo Alto, California, Tesla is specializes in electric cars and is headed by the maverick entrepreneur Elon Musk.
These gains, if consistently maintained, can result in a huge pay check for Musk, allowing him to earn potentially more than $55 billion over the next ten years.
We wish Tesla and Elon Musk the best to beat all odds and emerge victorious!