After losing up to 60% of its value, Tesla shares started to rise again. So much so that it has passed the $ 1,000 mark, an amount never before reached by the manufacturer. Thanks to this, Tesla becomes the first automotive stock market valuation worldwide, ahead of Toyota.
Last March, we reported a sharp drop in Tesla’s stock market of nearly 60%. An evolution that might seem surprising. Indeed, the 2019 results are very good (with profits for the first time), positioning the brand well at the head of the electric vehicle market, a sector in very strong growth. Everyone was talking about Tesla in 2019.
And everyone is still talking about it in 2020. In January, the firm overtook Volkswagen on the stock market. In February 2020, Tesla, which had become the largest American automaker, was worth even more on the stock market than General Motors, PSA, Renault, Ford, and Fiat combined. But the coronavirus has been there. Tesla closed the Fremont plant. The Chinese gigafactory has temporarily shut down. And gigafactory projects in Germany are postponed.
A quick return to the highest
On March 18, 2020, the stock is at its lowest: around $ 361, while it peaked at $ 917 a month earlier (to the day), its highest price to date. By forcing the reopening of its factories, Elon Musk has regained the confidence of investors. At the end of March, the stock was back above $ 500. At the end of April, it blithely exceeded 700 dollars. As of June 1, it was close to $ 900.
Today, Wednesday, June 10, it is over $ 1,000. As of this writing, Tesla stock is trading at $ 1,018 on the US Stock Exchange. That is a market capitalization of 188.24 billion dollars. The value of Elon Musk’s firm is thus higher than that of Toyota, which held the title of the highest valuation in the sector. On June 9, 2020, the Japanese group was worth $ 185 billion.