The incredible price of Tesla stock continues. Now it has reached the next milestone and is now at a price of $ 2,000. At this price, which was achieved by a further boost of around six percent, Tesla’s market capitalization now rises to $ 370 billion – Toyota is comparatively at $ 218 billion.
For Elon Musk this is of course a new triumph. After all, the US electric car maker has managed to almost quintuple the price of its share since the beginning of the year ($ 418) and almost nine-fold ($ 225) within a year. Such price increases are only known from the market for crypto currencies and are currently causing investors to cheer – the longer they are there, the louder.
More than just a car maker
Whoever buys Tesla invests in the future of the company – because the stock market valuation and the share price have little to do with what Tesla generates in terms of sales and profits. Rather, the share is a bet on the future of mobility, in which Tesla is currently playing a leading role with its electric cars and its ambitions for autonomous driving.
Elon Musk’s coolness factor contributes to the company’s good image. Without Musk, Tesla wouldn’t be Tesla, because the entrepreneur regularly makes headlines with his pithy announcements and does not shy away from calling the richest man in the world (Jeff Bezos) a copycat.
It should not be forgotten that although the car is the core product, attempts are being made to build many other additional services around it – just like Apple built a profitable suite of services from music streaming to gaming subscriptions around the iPhone Has. In the case of Tesla, these are solar systems for house roofs, electricity storage systems for the garage and even insurance services for e-cars.
In the wind from Tesla
Means: Tesla is not rated as a pure car manufacturer, but as a tech company that can play a leading role in autonomous driving and renewable energy. Musk’s company is benefiting from a trend that other tech giants are also feeling very clearly in the Corona year: investors want to invest in tech, the obvious “safe haven” in all the economic uncertainty. Apple is the best example and now has the status of one $ 2 trillion-Company reached. That has as reported also ensured that, contrary to expectations, there will be an enormous number of tech IPOs in 2020. Memories of the dotcom boom in 2020 are awakened.
Other companies also want to benefit from the Tesla hype. Xpeng, an e-car maker from China, is also going public this year; Nikola, a manufacturer of hydrogen trucks, also made its stock market debut; and with Rivian there is a very young manufacturer of e-pickups that can become a serious rival for the upcoming cybertruck from Tesla.
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