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Tesla briefly won over $ 1 trillion on Wall Street

2021-10-25T18:13:26.297Z


The electric vehicle maker saw its share price boosted by a mega-order from car rental company Hertz.


Elon Musk's group share rose to $ 996.57 during the session before falling back a bit, but was still up about 9% around 5:20 p.m. GMT.

By exceeding the symbolic threshold of 1000 billion dollars, the company joins Apple, Microsoft, Google and Amazon in the club of the richest companies on the stock market.

Read also Tesla has the art of escaping semiconductor shortages

The stock had already climbed after the release of earnings last week for the automaker, which again saw record third-quarter sales and profits, despite supply issues and semiconductor shortages affecting the entire market. automotive industry. It took off again Monday after the announcement of an order for 100,000 vehicles by the end of 2022 by Hertz.

For the boss of the car rental company, Mark Fields, the latter "

have become mainstream products

", and "

demand and interest (for this type of car) are just starting to increase around the world

".

"

An order of this magnitude (...) highlights the gradual adoption of electric vehicles in the United States

", also estimated analyst Dan Ives of Wedbush.

This surge in the stock market also consolidates the position of the richest man in the world for Elon Musk, who according to the firm Factset, owns about 17% of the shares of the company.

Source: lefigaro

All business articles on 2021-10-25

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