Tesla reached the $1,000 milestone

By: Miguel A. Rodriguez

09:45, 14 September 2020

Tesla now has the largest market cap in the automotive industry.

During yesterday’s trading session, Tesla broke new records. For the first time ever, the company's stock price exceeded $1,000, and ended the day at $1,025.05, after it gained more than 9%. 

The price surged after Elon Musk decided to urge the production of the electric freight truck – Tesla Semi. The decision comes after some investors became interested in one of Tesla’s competitors.

Now, Tesla became the most valuable automaker in the world, with a market cap of $190 billion. 

The competitor that triggered the change is supposed to be Nikola Corp., an Arizona-based electric-truck that had its IPO last week. The newly emerged company doubled its share price since trading publicly.

But the success was shadowed by the fact that six of its employees have tested positive for COVID-19. No one knows exactly the number of positive checked employees because the company doesn't conduct regular tests.

Since the beginning of the year, Tesla stock went up more than 140%. USA30 lost 5%, and USA500 fell by 1%. 

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Sources: theverge.com, marketwatch.com

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This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided.