Tesla’s shares have pushed the company’s market capitalization to more than $500 billion. The company started off with $100 billion in the beginning of the year and has had a five fold increase since then.
For the firm, October was critical as they reported a fifth consecutive quarter of profits during July-September. They announced that they had delivered 139,300 vehicles in the third quarter which was a record for the company.
In fact, with the rise in market cap, Elon Musk has moved past Bill Gates, in the ranking of the richest people of the world, becoming second.
Tesla is set to move Monday, Dec. 21 from the Nasdaq to join the S&P 500, which incompletely added to the memorable ascent of its stock cost.
Wall Street Is Now In Love With Tesla
In fact the value of stock market of General Motors, Ford, Fiat Chrysler, Honda, Hyundai, Daimler AG (Mercedes-Benz), BMW, Volkswagen, and Ferrari, all combined is less than Tesla.
Elon Musk’s company has watched its share cost rise by more than 500 percent this year but on the other hand the stock price for Buffett’s company, the otherside, has only risen by 2.4 percent during that time.
Tesla is currently the world’s most valuable automaker. Tesla’s investors are now seeing its future is bright.
The most recent surge in Tesla stock came on the heels of Musk’s announcement that the electric cars maker will be added to the S&P 500 index in December.
Tesla currently trades on the Nasdaq.
The biggest factor behind Tesla’s latest growth is its stocks. After trading opened on Tuesday, Tesla’s share price crossed $527.48 per share. Even Elon Musk’s own net growth grew by almost $7.24 billion.
Elon Musk once predicted that Tesla could be a trillion-dollar company and now we are seeing it becoming true.