The Strategist

Tesla market cap soars by $100B in two weeks

12/09/2020 - 03:58

The capitalization of the American manufacturer of electric cars Tesla has increased by $100 billion in a fortnight and exceeded $600 billion in anticipation of the inclusion of the issuer in the calculation of the U.S. broad market index S&P 500 on 21 December, according to the auction data.

Jakob Härter
Jakob Härter
On Monday, the company's shares on the NASDAQ exchange rose by 7.13% to $641.76. As a result, the company's capitalization amounted to $608.32 billion, although only on 24 November it exceeded $500 billion. 

Since the beginning of the year, the car manufacturer's shares have soared more than seven-fold - on 31 December, they were worth only $83.67. And on 1 July, the company came out on top in the world in terms of market capitalization among car manufacturers, bypassing the Japanese Toyota Corporation.

The American company Tesla Motors was founded in 2003 as a developer and manufacturer of electric cars and the technologies associated with them. The company's headquarters is located in Palo Alto, California. 

In addition to electric cars, the company produces batteries and electric motors using its own technology and sells them to other automotive companies, such as Toyota and Daimler.