Undoubtedly in recent days Tesla has been at the top of the news in the car world. The American company’s stock price has literally skyrocket in the last two days.
It didn’t pass long hours and Tesla’s stock still hit a record. In fact, during yesterday’s day on the New York Stock Exchange, Tesla’s share price had reached up to $970.
With a 13.73% rise and closing price at $887.06, Tesla’s stock market value was at $160 billion. That was enough for Tesla’s value to outperform VW & Daimler together. Top car industry in value so far is Toyota with about $200 billion.
Tesla’s latest good financial results certainly contribute somewhere to this development. But the latest big rise in share prices is hard to explain. Tesla is, of course, working on several promising projects that will give the Company a huge boost.
The Tesla Model Y is an extremely important electric SUV where it will surely add a lot of bonuses to the fund. Production of the small SUV has already begun and the first deliveries are expected in the next two months.
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Autonomous driving, FSD, is the other big bet for Tesla. In 2020, the FSD is expected to be in full swing in conjunction with the RoboTaxi that Elon Musk wants on the streets. Semi Truck, Cybertruck and Roadster 2 are expected while Tesla has also accelerated the solar panels’ facilities.
Elon Musk, now 48 years old, currently owns about 20% of Tesla’s shares, which make up most of his fortune. In addition to Tesla owns the majority of SpaceX’s shares.
As a result, after yesterday’s stock rally Musk soared by 13 places in Bloomberg’s billionaire index (22nd out of 35th), passing among others, Bezos’s wife and Nike co-founder Phil Knight.