The stock of Tesla jumped at 9:03 a.m. at around 5.5%. ET, for $802,6 billion in the market, while the stock on Facebook went down. Facebook is about $755.8 billion in market capitalization.
This boost makes Elon Musk’s the fifth largest company to compete for the Alphabet shares in the big-cap market. Now, Apple, Microsoft, Amazon, and Alphabet are trailing.
Although the mark is mostly indicative, it shows the dramatic increase of Tesla over only a short period. In January 2019 Tesla was the first U.S. carmaker listed as a public $100 billion. The company only exceeded its $500 billion market cap ten months later. In 2020, the stock grew by over 700%.
In December, the company joined the S&P 500 with a strong year of achievement. Led by Musk, in five consecutive profitable quarters, Tesla has turned. During the year, Tesla delivered 499,550 vehicles, including the production and sales volumes, and is currently building new factories in Austin, Texas and Brandenburg, and Germany.
Meanwhile, over the duration of 2020, Facebook shares have gained about 32%. After a very stirring note by Morgan Stanley analyst Adam Jonas, this week Tesla share has grown, as well as news of a Democrat majority in the Senate following the Georgian elections.
President Joe Biden aims to create 1 million new jobs for the domestic automotive industry, expand its charging infrastructure throughout the United States, and expand its clean-energy plan for solar energy and other renewables. The advancement of these plans by a Democratic majority in the Senate would seem to him more easily. This week after the runoff races in Georgia, the Democrats sealed their Senate majority.
Tesla’s share price expansion on Thursday drove Musk to Jeff Bezos, who is currently estimated at $184 billion, has been the richest person since the year 2017. Musk was around $27 billion in 2020, and seldom in the top 50 wealthiest.
