The Strategist

Tesla stock exceed $500 apiece for the first time

01/14/2020 - 08:49

Value of stocks of electric car manufacturer Tesla exceeded $ 500 apiece during Monday trading on the NASDAQ, Forbes reports citing the exchange data.

One paper of the company was worth $ 517.44. The price exceeded $ 500 for the first time. 

The company's shares have been growing mainly since the end of October, during which time they have doubled in price. Last week, the company became the most expensive automaker in US history. The company's market value is estimated at approximately $ 93 billion.

The growth of its shares since the beginning of the year exceeded 17%. Among the reasons for this growth were the surprising third quarter earnings ($ 143 million), better-than-expected sales of Tesla electric cars in the fourth quarter and the start of sales of Model 3 assembly line in China.