Some news coming out of financial markets in the US. Tesla's stock rose sharply 5% in the last few days allowing the TSLA stock to reach highs of $1135 making the California company worth $206.5 billion.
While the Tesla company has yet to turn over a profit in a calendar year they have now become, at least momentarily the most valuable automaker in the world. They recently took the place of Toyota which had a market valuation of $4 billion less at $202 billion.
This year has been an outstanding year for the Tesla stock, as the new releases have pushed the car company higher up through its market value. The release of the cybertruck, the roadster, production of Model Y, Tesla solar market domination among other incredible news have shown that Tesla is prepared for the future and looking forward to keep growing at an unstoppable rate.
Nonetheless when we actually take a moment to compare the Japanese company with Tesla in terms of production, we see stark differences. When taking into account the previous period that ended March 31st, Tesla had produced a little over 100,000 cars while Toyota had produced more than 2 million.
The age of both companies should also be taken into account, yet we keep being surprised by the performance of the company led by Elon Musk.
The electric vehicle craze has slipped into the stock markets and will continue to be a hot topic over the next few years as new players come in to fight for the prized possession of being at the top.
Here is the detailed article from CBNC: https://www.cnbc.com/2020/07/01/tesla-tops-toyota-to-become-largest-automaker-by-market-value.html