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After losing up to 60% of its value, Tesla stock has rebounded. So much so that it has surpassed the $1,000 mark, an amount never before reached by the manufacturer. As a result, Tesla is now the world’s largest automotive stock market valuation, ahead of Toyota.
Last March, we reported a sharp fall in Tesla’s share price of almost 60%. A development that might seem surprising. Indeed, the 2019 results are very good (with profits for the first time), positioning the brand well ahead of the market for electric vehicles, a sector that is growing very strongly. Everyone was talking about Tesla in 2019.
And everyone is still talking about it in 2020. In January, the company overtook Vlokswagen on the stock market. In February 2020, Tesla, now the largest American car manufacturer, was worth even more on the stock market than General Motors, PSA, Renault, Ford and Fiat combined. But the coronavirus has been there. Tesla closed the Fremont plant. The Chinese gigafactory shut down temporarily. And the plans for a gigafactory in Germany have been postponed.
A quick return to the top
On March 18, 2020, the stock hit a low of about $361, compared to a month earlier (to the day) when it peaked at $917, its highest price to date. By forcing the reopening of its factories, Elon Musk has regained the confidence of investors. By the end of March, the share price was back above $500. At the end of April, it was happily above 700 dollars. By June 1st, it was close to $900.
Today, Wednesday, June 10, the stock surpassed $1,000. At the time of writing, Tesla stock is trading at $1,018 on the U.S. Stock Exchange. That’s a market capitalization of $188.24 billion… The value of Elon Musk’s firm is thus higher than that of Toyota, which held the most highly valued stock in the sector. On June 9, 2020, the Japanese group was worth $185 billion.
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After losing up to 60% of its value, Tesla stock has rebounded. So much so that it has surpassed the $1,000 mark, an amount never before reached by the manufacturer. As a result, Tesla is now the world’s largest automotive stock market valuation, ahead of Toyota. […]
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After losing up to 60% of its value, Tesla stock has rebounded. So much so that it has surpassed the $1,000 mark, an amount never before reached by the manufacturer. As a result, Tesla is now the world’s largest automotive stock market valuation, ahead of Toyota. […]
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