How Tesla Became The Most Valuable Car Company in The World
Tesla became the most valuable car company in the world
Elon Musk’s electromobility business exceeds the cost of almost every S participant&P 500 including some key American companies.
Tesla Stock rose 4% in the last auction, rising to a new high of more than $ 1,120 per share. At this price, Tesla has a market cap of nearly $ 210 billion.
So this makes the project Ilona Mask most expensive car company on the planet, ahead of Toyota in market value, but still seriously lagging behind its Japanese rival in actual car production. The total cost of American automakers General Motors and Ford Motor is three times less than that of Tesla.
Today in S&P 500 only 19 companies are more expensive than Tesla. One of them is the owner of CNN AT&T. Tesla is worth more than PayPal, which was formed from a merger with another payment company co-founded by Musk.
The skyrocketing stock (more than 163%) since the start of 2020 underscores growing investor confidence in the future of electric vehicles and Tesla’s move from a niche automaker to a global leader in green cars.
How Tesla Became the Most Valuable Auto Maker in the World | WSJ
After several years of losses, Tesla posted three profitable quarters from the second half of 2019, and also pleasantly surprised investors with reliable shipments of its models in the first quarter of 2020, despite the pandemic..
The market’s optimism for EVs isn’t limited to Musk’s brainchild. Manufacturer’s shares Nikola electric trucks took off since the company went public in June as a result of the merger with the Black check. Nikola is now worth nearly $ 25 billion, more than Ford.
Electric battery maker papers Workhorse, which has a stake in private startup Lordstown Motors, more than doubled over the past week.
«We continue to be cautious about Tesla, but everything related to electric vehicles is now very important for investors. There are not many ways to invest in this segment, which is why we see stocks continue to "work in the short term", despite our caution regarding competitive timing and evaluation», – said analyst Cowen Jeffrey Osborne.