Tesla reached the $1,000 milestone

Tesla reached the $1,000 milestone

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%.

Read your daily financial news on Capex.com!

Sources: theverge.com, marketwatch.com


The information presented herein is prepared by CAPEX.com and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only and as such it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.

Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance is not a reliable indicator of future results.