During the streak, Tesla shares surged more than 40%, boosting its market value to around $814 billion.
The increase in market capitalization was almost 240 billion. This is more than the full value of the Japanese company Toyota, which is the second most valuable automaker worldwide.
It is noted that shares began to rise after the adoption of the Tesla charging system by American automakers Ford and General Motors. This effectively puts 60% of the U.S. electric vehicle market in line with the North American Charging Standards (NACS) used by Tesla.
With this series of shares, the company’s price-to-earnings ratio significantly outperforms other automakers.
News from Tesla
Elon Musk has said that Tesla is likely to launch full autonomous driving technology as early as this year. It is noted that this will allow the company to make super profits.
Tesla is selling autonomous driving and smart parking options for $15,000.
2023-06-14 22:23:08
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