Elon Musk's Tesla Is Worth Over $1 Trillion, Only Sixth Company To Do So
Elon Musk's Tesla is now one of the biggies! With its market cap officially crossing $1 trillion for the first time ever, Tesla is now in the same league as Google's parent company Alphabet, Amazon and Facebook.
The electric automobile maker was shot to the top of the share market after recording strong earnings over the last week along with Hertz Global Holding's announcement to buy Tesla cars worth several billions of dollars.
Tesla: The next tech giant
On Monday afternoon, the (now) tech giant's shares hit prices of $1,036.63 and closed with $1,025. Before the market closed, the valuation hit $1.01 trillion. Facebook, too, joined the 1 trillion club in June this year. Since then, its valuation has sunk to $927 billion.
Tesla's Elon Musk shared the joy on Twitter
?With this feat, Tesla is only the sixth company in the United States to be worth over $1 trillion. Since January this year, Tesla's shares have grown over 40 per cent, or $300 in value.
Also read:?Tesla Model S Plaid Sets World Record As Fastest Production EV At Nurburgring
While the world grapples a chip shortage, Tesla is flying high. According to Fortune, the electric car champion has delivered 240,000 vehicles in the third quarter, roughly 70% more than what it had delivered in the same period last year.
Tesla claims that it was able to achieve the target by ramping up the production of Tesla Model Y at its Shanghai factory.
What's next for Tesla?
Even though just hitting $1 trillion is remarkable in itself, the ability to stay beyond this market cap is now Tesla's main challenge.?Tesla's autopilot mode is now under scrutiny after a dozen of its cars collided with parked emergency vehicles. Instead of a recall, Tesla updated its autopilot software.
Even in the face of challenges, Tesla's founder Elon Musk keeps his cool (or so it appears on Twitter)! With a personal assistant robot in the works, a neural link technology, and SpaceX's ambitious plans, there's no stopping Musk!
Also read:?Elon Musk Is Crazy: 10 Outrageous Comments Made By The Tesla & SpaceX CEO
What do you think about Tesla's new fantastic feat and entry into the $1 trillion club? Share your thoughts with us in the comments below.?For more in the world of technology and science, keep reading Indiatimes.com.??
