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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Tesla, Inc.    TSLA

TESLA, INC.

(TSLA)
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Tesla market value crosses $500 billion in meteoric rally

11/24/2020 | 01:32pm EST
Tesla Inc CEO Elon Musk walks next to a screen showing an image of Tesla Model 3 car during an opening ceremony for Tesla China-made Model Y program in Shanghai

(Reuters) - Tesla Inc blew past $500 billion in market value on Tuesday as investors snapped up its shares in the run-up to its debut in the S&P 500, extending a meteoric rally that has seen it surge over 500% this year.

The California electric carmaker's stock rose nearly 5%, putting its market capitalization at $519 billion.

Tesla is Wall Street's seventh most valuable company, just behind Berkshire Hathaway , and its shares have rallied over 30% since Nov. 16, when it was announced Tesla would join the S&P 500 benchmark.

Index funds that replicate the S&P 500 will have to buy more than $50 billion worth of Tesla's stock ahead of its inclusion to the index on Dec. 21. Additionally, Goldman Sachs estimated last week that actively managed mutual funds could buy another $8 billion of Tesla shares after it is added.

Tesla has become by far the world's most valuable automaker, despite production that is a fraction of Toyota Motor Corp, Volkswagen or General Motors Co.

Shares of other electric vehicle (EV) makers have also rallied in recent months as President-elect Joe Biden made boosting EVs a top priority during his campaign.

Chinese electric carmaker Nio Inc fell 4.9% on Tuesday, trimming its gain in November to 72%.

"One of the core underpinnings of the Biden platform will be around pushing clean energy and zero-emissions vehicles with hopes of accelerating the deployment of electric vehicles and public charging outlets by 2030," Wedbush analyst Daniel Ives wrote in a research note.

(Reporting by Subrat Patnaik in Bengaluru and Noel Randewich in San Francisco; Editing by Tom Brown)

By Subrat Patnaik and Noel Randewich


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BERKSHIRE HATHAWAY INC. -0.70% 349295 Delayed Quote.0.81%
DJ INDUSTRIAL -0.08% 30926.51 Delayed Quote.1.28%
GENERAL MOTORS COMPANY -2.58% 51.985 Delayed Quote.28.22%
NASDAQ 100 0.03% 13484.45066 Delayed Quote.4.62%
NASDAQ COMP. -0.08% 13620.618646 Delayed Quote.5.08%
NIO LIMITED 0.12% 60.11 Delayed Quote.23.08%
S&P 500 -0.15% 3848.55 Delayed Quote.2.64%
TESLA, INC. 0.29% 883.181 Delayed Quote.24.82%
THE GOLDMAN SACHS GROUP, INC. -0.42% 281.705 Delayed Quote.9.74%
TOYOTA INDUSTRIES CORPORATION 1.64% 8680 End-of-day quote.5.98%
TOYOTA MOTOR CORPORATION 0.22% 7677 End-of-day quote.-3.52%
VOLKSWAGEN AG 2.75% 163 Delayed Quote.4.08%
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Financials (USD)
Sales 2020 30 945 M - -
Net income 2020 1 312 M - -
Net cash 2020 5 310 M - -
P/E ratio 2020 689x
Yield 2020 -
Capitalization 835 B 835 B -
EV / Sales 2020 26,8x
EV / Sales 2021 18,1x
Nbr of Employees 48 016
Free-Float 80,0%
Chart TESLA, INC.
Duration : Period :
Tesla, Inc. Technical Analysis Chart | TSLA | US88160R1014 | MarketScreener
Technical analysis trends TESLA, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 37
Average target price 532,94 $
Last Close Price 880,80 $
Spread / Highest target 17,6%
Spread / Average Target -39,5%
Spread / Lowest Target -85,8%
EPS Revisions
Managers and Directors
NameTitle
Elon Reeve Musk Chief Executive Officer & Director
Robyn M. Denholm Chairman
Zachary Kirkhorn Chief Financial Officer
Kimbal Musk Director
Ira M. Ehrenpreis Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
TESLA, INC.24.82%834 911
TOYOTA MOTOR CORPORATION-3.52%206 840
BYD COMPANY LIMITED37.01%105 611
VOLKSWAGEN AG4.08%101 723
NIO LIMITED23.08%93 743
GENERAL MOTORS COMPANY28.22%76 418