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Tesla ‘s market capitalization exceeded $700 billion

Posted 4 years ago

Tesla ‘s market capitalization exceeded $700 billion

Posted 4 years ago

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More valuable than Facebook

Tesla ‘s market capitalization exceeded $700 billion on Monday, an impressive milestone. And counting a different way, Elon Musk’s company is worth more than Facebook, a tech giant once seen as orders of magnitude more valuable.

Tesla (ticker: TSLA) stock hit $744.49 Monday, giving the company a market capitalization of more than $700 billion for the first time, according to Dow Jones Market Data. A closing price of $738.48 or above would mean it ended the day valued at more than $700 billion, a gain of roughly 10% away from passing Facebook’s (FB) $765 billion.

Tesla's vehicle deliveries in 2020 amounted to just under 500,000 units. Quarterly deliveries rose by some nine percent during the second quarter of 2021, compared with the first quarter of the same year. Between April and June 2021, deliveries crossed the 200,000 unit threshold.

The Musk

The auto industry disruptor led by Elon Musk wowed Wall Street yet again over the weekend, reporting annual car deliveries of 499,550, just shy of its 2020 target of half a million, but well above analyst estimates.

The disclosure capped a year that saw Tesla report a series of profitable quarters and join the S&P 500, establishing the company as one of the world's most valuable businesses and elevating Musk to the second-wealthiest person behind Amazon CEO Jeff Bezos.

2015 CNN Business wrote: "Tesla CEO Elon Musk says a lot of bold things. But he may have just outdone himself. He thinks the stock will go into "insane mode" over the next decade."

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