A record run in shares has already topped the charts as Tesla has crossed the $100 billion bar and has taken over Ford and GM making it the second most valuable carmaker company in the world.
Watch the video about Tesla’s amazing growth!
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But Elon Musk’s company is not stopping here as it is all set to take down Volkswagen too.
On Wednesday, Tesla shrugged its $100 billion marks and crossed over it leaving behind giant companies like Ford, GM, and Volkswagen even though it started just a decade ago.
Analysts and investors have re-set their expectations of profit from the carmaker as the prices of the company’s shares have doubled in just the last 6 months.
Tesla is shining bright as the leader of the electric car market industry after showing greater quarterly delivery results than expected.
Especially, it is presenting positive potential after the expansion of China’s production facilities the company owns and after Musk introducing more discipline in the line of dealing in the company.
Bernstein analyst Toni Sacconaghi said “Something like this happening is rare but it is not completely unexpected.
In fact, we keep space for three big-cap companies every year.
We have seen stocks of other giant companies double in the 3 months.
But something like this is extremely rare in the automobile industry.
This generally never happens and this is the reason investors are left by a surprise or a good shock if you would say.”
On Wednesday, the shares of the company had a hike of 8.12% which made the market price of the shares being $591.78.
This is the highest of all the time and it leads the value of the company to be a little over $106.6 billion.
This means since June the company has had a rise of 230%.
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