For the first time: Tesla is already worth more than a trillion dollars

For the first time: Tesla is already worth more than a trillion dollars
For the first time: Tesla is already worth more than a trillion dollars

After announcing that it would sell vehicles for $ 4 billion to the car rental giant and a new report stated that the Model 3 was the vehicle sold in Europe – Tesla was a significant achievement. And of course Ayalon Musk tweeted about it

The deal that jumped Tesla’s value Photo: Hertz

Following the official announcement of a huge deal in which it will sell one hundred thousand vehicles to the Hertz rental giant for $ 4.2 billion, Tesla crossed a threshold last night (Monday) that very few companies reached – probably in such a relatively short time since their inception – Market Value Cap) of a trillion dollars.

Thanks to Hertz, but not only

With the opening of trading yesterday, which coincided with Tesla’s official announcement and Hertz on the huge deal between the two, when its share price soared to the $ 988 range. Later in the trading day the share price fell and so did Tesla’s value, but later the stock soared again and closed at $ 1,024.86 per share – which now embodies its value of $ 1.027 trillion. Overall, Tesla’s stock jumped about 12% following the deal.

As part of the huge deal, Hertz will gradually receive 100,000 units of Model 3, and these will reach its agencies in the US and Europe by the end of 2022. Hertz will interface with Tesla’s SuperCharge stations and at the same time build its own charging station infrastructure.

Along with the announcement of the deal with Hertz, another piece of information that apparently helped raise Tesla’s share price and jump its value above $ 1 trillion, just 11 years after it went public, is that the Model 3 was the best-selling vehicle in Europe last month, according to JATO. Dynamics. This is an achievement because the Model 3 is the first electric vehicle that managed to overtake the internal combustion vehicles sold in the sales charts throughout Europe.

Along with the significant deal with Hertz and the report that puts Model 3 at the top of the European sales chart, another factor that could have a positive impact on Tesla’s value is its financial statements – which it unveiled last week. Tesla posted a profit of $ 1.62 billion in the third quarter, a jump of nearly 500% compared to the same quarter last year. Tesla posted revenue of $ 13.76 billion, up 56% from the third quarter of 2020 and 15% compared to Q2 of the year.

The one who of course really enjoyed the jump in value, and celebrated it is of course CEO Elon Musk – who tweeted “crazy times” on Twitter – with the word times written T1mes $, a pun on the company’s impressive value. Unlike in the past, when his tweets about trading in Tesla stock – not infrequently – Musk waited until the last minute of the trading day to tweet, perhaps so that the value would not suddenly plummet.

With the surge in its value, Tesla joins several of the technology giants that have reached the “Trillion Club” to date, including Alphabet, Amazon and Facebook – the only one that has overtaken Tesla in terms of the time that has passed since it went public until it reached a trillion dollars value. Microsoft and Apple also reached a trillion dollars two years and three years ago, respectively – but since then they have already crossed the $ 2 trillion mark.

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Oshri Alexelsi

Your Friendly Neighborhood Geek. Do you have a technological story? Talk to me: [email protected]

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