BREAKING: Tesla's market value hits $500 billion for the first time ever

[Get Ya Wig Split]

https://twitter.com/x/status/1331244432620998656

Tesla hits $500 billion market cap for the first time

Tesla surged past a $500 billion market cap on Tuesday after markets opened and its stock price surpassed $527.48 per share.

Shares of Tesla were trading at $540.40, up more than 3%, when markets opened.

The company has been on a tear this year, with its stock price increasing more than fivefold. While the mark is largely symbolic, it underscores CEO Elon Musk’s push for growth. Tesla became the first $100 billion publicly listed U.S. carmaker in January.

In October, Tesla reported its fifth consecutive quarter of profit on third-quarter revenue of $8.77 billion. The company also reported earlier that month it delivered 139,300 vehicles during the third quarter, a new record for the carmaker.

Tesla is set to join the S&P 500 prior to trading on Monday, Dec. 21, a move that pushed shares higher earlier this month since money managers with funds that track the S&P 500 will need to buy the stock for their portfolios. Morgan Stanley also upgraded Tesla to a buy-equivalent overweight rating last week, the first time in years since the company put a buy rating on the stock.

This week’s stock jump also pushed Musk to overtake Microsoft billionaire Bill Gates as the world’s second richest person, according to the Bloomberg Billionaire Index, which tracks the wealth of the world’s 500 richest people. Musk’s net worth has risen more than $100 billion in 2020, marking the largest increase among those on the Bloomberg Billionaire Index. In January, Musk ranked 35th on the list. He now trails Amazon CEO Jeff Bezos.

Tesla hits $500 billion market cap for the first time

The company has been on a tear this year, with its stock price increasing more than fivefold.

www.cnbc.com

Meanwhile trash can XPENG down almost 20%

 

[313ghazi]

I don't think this is sustainable. What does he sell that makes his company so valuable?

 

[F-22Raptor]

https://twitter.com/x/status/1331244432620998656

Tesla hits $500 billion market cap for the first time

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Tesla surged past a $500 billion market cap on Tuesday after markets opened and its stock price surpassed $527.48 per share.

Shares of Tesla were trading at $540.40, up more than 3%, when markets opened.

The company has been on a tear this year, with its stock price increasing more than fivefold. While the mark is largely symbolic, it underscores CEO Elon Musk’s push for growth. Tesla became the first $100 billion publicly listed U.S. carmaker in January.

In October, Tesla reported its fifth consecutive quarter of profit on third-quarter revenue of $8.77 billion. The company also reported earlier that month it delivered 139,300 vehicles during the third quarter, a new record for the carmaker.

Tesla is set to join the S&P 500 prior to trading on Monday, Dec. 21, a move that pushed shares higher earlier this month since money managers with funds that track the S&P 500 will need to buy the stock for their portfolios. Morgan Stanley also upgraded Tesla to a buy-equivalent overweight rating last week, the first time in years since the company put a buy rating on the stock.

This week’s stock jump also pushed Musk to overtake Microsoft billionaire Bill Gates as the world’s second richest person, according to the Bloomberg Billionaire Index, which tracks the wealth of the world’s 500 richest people. Musk’s net worth has risen more than $100 billion in 2020, marking the largest increase among those on the Bloomberg Billionaire Index. In January, Musk ranked 35th on the list. He now trails Amazon CEO Jeff Bezos.

Tesla hits $500 billion market cap for the first time

The company has been on a tear this year, with its stock price increasing more than fivefold.

www.cnbc.com

Meanwhile trash can XPENG down almost 20%

PDF posters laughed when I said Tesla will easily reach $1T market cap within 5 years. I think it happens within 3.

China’s EV companies are riding Tesla’s coattails. Their stock run ups are pure speculation.

 

[Hamartia Antidote]

I don't think this is sustainable. What does he sell that makes his company so valuable?

Consumers:
EV automobiles
Multi-nation electric charging stations
Solar panels , rooftop solar panels
Powerwall whole house battery backup

Electric Utility companies:
Solar arrays and MegaPacks for power storage

Future
Self-driving EV automobiles for consumers
Self-driving EV automobiles for taxi service
Self-driving EV heavy-haul trucks
Home heating/cooling systems

 

[313ghazi]

Consumers:
EV automobiles
Multi-nation electric charging stations
Solar panels , rooftop solar panels
Powerwall whole house battery backup

Electric Utility companies:
Solar arrays and MegaPacks for power storage

Future
Self-driving EV automobiles for consumers
Self-driving EV automobiles for taxi service
Self-driving EV heavy-haul trucks
Home heating/cooling systems

Is all the consumer stuff currently in the market?

 

[Hamartia Antidote]

Is all the consumer stuff currently in the market?

Yep!

Tesla Solar roof

Powerwall

Tesla surged past a $500 billion market cap on Tuesday after markets opened and its stock price surpassed $527.48 per share.

Shares of Tesla were trading at $540.40, up more than 3%, when markets opened.

 

[Hamartia Antidote]

Tesla Short Sellers Have Taken A $4B Hit This Week

A huge 2020 got even better this week for Tesla Inc (NASDAQ: TSLA) investors after Tesla was confirmed it will be added to the S&P 500 index. Tesla shares hit new all-time highs of $508.61 this week following the S&P 500 news in one of the worst weeks of the year for Tesla short sellers.Prior to...

finance.yahoo.com

 

[Yongpeng Sun-Tastaufen]

Tesla is now worth more than most countries.

 

[TheTruth]

Meanwhile Chinese household net worth grew by 20-30%, and US households lost trillions:

Households Lost $6.5 Trillion In March, But The Decline In Average Americans’ Wealth Has Only Begun

The Federal Reserve’s latest data show that household wealth dropped by $6.5 trillion from the end of 2019 to March 2020 as the coronavirus pandemic started to take its toll.

www.forbes.com

 

[52051]

PDF posters laughed when I said Tesla will easily reach $1T market cap within 5 years. I think it happens within 3.

China’s EV companies are riding Tesla’s coattails. Their stock run ups are pure speculation.

Tesla don't have any core-tech in EV, all are imported/bought.

Meanwhile EV giant like BYD actually are the world leaders in Battery design, and their new model like BYD Han series has the world safest battery pack designed and built by BYD China, unlike the death trap a.k.a Tesla:

The BYD Han has the size of Tesla Model S, has a range of 600 km, and get a 0-100km/h in 3.9 sec, and most importantly, equipped with the world safest battery design/built by BYD, yet priced at Model 3.

No wonder the sales of BYD Han in China jump faster than the BYD can make them, the buyers need to wait for 2-6months to get one.

And most ironic part of the story is: Tesla's stock price jump is solely because they build a factory in China, it is a reception of stock market success in the US: building a hype in the US and outsource all real work in China.

Musk is a hype promoter, nothing more than that, his Chinese counterpart, Jie Yueting, ironically, is also in the US, hiding from the debt-collectors in China, Chinese dont price Jie's hype as much as the you do with Musk, the americans just love hypes.

 

[OppositeDay]

Consumers:
EV automobiles
Multi-nation electric charging stations
Solar panels , rooftop solar panels
Powerwall whole house battery backup

Electric Utility companies:
Solar arrays and MegaPacks for power storage

Future
Self-driving EV automobiles for consumers
Self-driving EV automobiles for taxi service
Self-driving EV heavy-haul trucks
Home heating/cooling systems

So it's a car maker + utility company, neither of which justifies the current valuation. Talk about irrational exuberance.