Infotech

Tesla closes at more than $ 700 billion on the stock market for the first time



Posted on Jan 6, 2021 11:12 PM

Tesla continues its meteoric rise in the stock market. After ending 2020 on the hats of wheels, the electric carmaker led by Elon Musk for the first time topped $ 700 billion in capitalization on Wednesday.

On a day marked by the eruption of pro-Trump demonstrators in the Capitol but where the Dow Jones reached a new record with 30,829.40 points, Tesla stock finished up 2.8%, at $ 755. The group thus earned nearly $ 20 billion on the stock market in 24 hours, for a valuation of $ 717 billion.

First automotive market capitalization

Tesla’s market valuation is a record for the global auto industry. The valuation of the American firm exceeds the combined capitalization of Toyota, Volkswagen, General Motors, BMW and Ferrari.

At the end of last year, the automobile firm integrated the S & P 500, the prestigious stock index comprising the 500 largest capitalizations of the American markets. It entered directly into 7th place in the ranking of the biggest valuations – behind Gafam but ahead of Berkshire Hathaway. A shattering arrival, crowning a crazy year on Wall Street, where the value of TSLA shares soared by more than 730% in 2020.

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