Tesla Shatters Trillion Dollar Mark
As of today, Tesla has become the first automaker to be worth more than a trillion dollars (over 860 billion euros) on the stock market. As recently as January 2020, the company was worth 88 billion US dollars (76 billion euros); 22 months later, the company has seen an eleven-fold increase in market value.
By comparison, second-place Toyota comes in at less than a quarter of the valuation at $240 billion. Tesla is thus worth as much as the next 9 automotive companies combined.
The reasons for this incredible run on the stock market have been a lot of good news in recent months. Tesla, for example, was the only company to reliably increase its car production and sales by 60 to 70 percent annually and to turn a profit, despite Corona, chip shortages and other uncertainties. Also, today’s news that car rental company Hertz has ordered 100,000 cars from Tesla for its rental car fleet has led to a jump in the stock price. And the potential seems to have no end. Some analysts are even so bullish that they attribute a market value of three trillion dollars to Tesla.
This article was also published in German.
