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$TSLA
- Thread starter Phill Twist
- Start date
So TSLA added the market cap of GM today on a gamma squeeze. Totally normal folks, nothing to see here
I know I'm in for Cybertruck unless something else released.
ELECTRIC VEHICLES
Tesla hits $1 trillion dollar market cap after Hertz order
In the US, only Apple, Amazon, Facebook, Google, and Microsoft have ever received the ticket to the four commas club.
OCTOBER 26, 2021
MATTY MERRITT
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While most of us spent yesterday eating all the candy we planned to give out on Halloween, Elon Musk was busy making auto history. After Hertz ordered 100,000 of Tesla’s electric vehicles, the automaker’s share price jumped 12.7%, giving it a market capitalization of $1 trillion.
Only Apple, Amazon, Facebook, Google, and Microsoft have ever received the golden ticket to the four comma club in the US. Facebook hit $1 trillion the fastest of all (within 17 years of being founded), but Tesla is currently worth about $83 billion more than the social media company. It took Tesla 18 years after its founding to reach the milestone.
Tesla + Hertz = Largest Deal EVer
Last spring, when no one was traveling and rental cars sat idle in parking lots, Hertz filed for bankruptcy. But like a phoenix rising from the charred remains of a 2019 Chevy Malibu, the rental car company reorganized and said, “No going home, just going big.”
How big? Hertz’s purchase of the Teslas, reportedly worth $4.2 billion, is the largest EV deal in history. With it, Teslas could make up over 20% of Hertz’s entire fleet while offering the EV-curious more opportunities to test them out. Hertz Interim CEO Mark Fields said that “electric vehicles are now mainstream” and adoption has only just begun.
Zooming out on the auto race
It’s not even close. If we’re measuring by market capitalization, which is used to approximate a company’s worth, Tesla is Lewis Hamilton and the competition is your grandma.
- Tesla is worth as much as 19 other automakers, including Toyota, GM, Honda, and Nissan, combined.
- Tesla’s value is 15x higher than Ford’s, even though Ford brought in $115+ billion more in revenue last year.
As for Mr. Musk...he’s shopping with the price filter set high to low. Thanks to Tesla’s surging share price, Musk’s fortune increased by $25.6 billion yesterday to hit $255.2 billion—richer than any billionaire Forbes has ever tracked.
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Elon is more than just that.
https://www.cnn.com/2021/10/26/investing/elon-musk-exxonmobil-net-worth/index.html
Elon Musk is now worth more than ExxonMobil
By Jordan Valinsky, CNN Business
Updated 9:33 AM ET, Tue October 26, 2021
Elon Musk is rapidly approaching a net worth of $300 billion, as Tesla's market cap soars past $1 trillion. That's enough to surpass one of his biggest rivals: ExxonMobil.
As of Monday's close, Musk's net worth was $289 billion, according to the Bloomberg Billionaires Index, which surpasses the $272 billion market value of ExxonMobil (XOM), the company most associated with the fossil fuel industry he's seeking to destroy.
Speaking of rivals: Musk is also worth more than fellow mega-billionaires Bill Gates and Mark Zuckerberg combined.
The Tesla CEO's jump in worth can be attributed to two things after shares of Tesla rose more than 12% Monday: Hertz (HTZ) announced a record order of 100,000 Teslas for its fleet, and influential Morgan Stanley auto analyst Adam Jonas recently raised his price target on Tesla to $1,200 a share. That hefty one-day gain put Tesla (TSLA) just over the $1 trillion mark.
Musk is a leading advocate of switching drivers around the world from gas and diesel to electric vehicles, potentially endangering Exxon's long-term future. America's largest oil company has been sharply criticized for its climate strategy and two of its board seats went to a climate activist hedge fund.
For Tesla, by contrast, Wall Street's excitement about the future of electric vehicles has pushed the company's market value to more than the 11 largest global automakers combined. Tesla is worth more than three times as much as Toyota (TM), the second most valuable automaker, which has a market cap of about $280 billion, and boasts sales and profits that dwarf those of Tesla.
Musk briefly eclipsed ExxonMobil's value once before, in early 2021. Exxon's stock is up nearly 60% this year as oil prices have climbed.
The buyers were more aggressive than the sellers.
And as for why that's the case - possibly hope and hype around fully self driving cars
https://seekingalpha.com/news/40928...fleet-could-make-non-autonomous-cars-obsolete