Tesla shares hit a new high market value of more than $200 billion, equivalent to 5.5 Gm SGNs

On its 10th anniversary, Tesla closed up 6.98 percent at $1,079.81 on Tuesday, a record close. At the same time, the company’s market capitalisation has passed the $200 billion mark, equivalent to 5.5 Gm and 23 NIO cars. As of Tuesday’s close, Japan’s Toyota Motor Corp. was trading at $173.7 billion. Honda Motor Co. $44.1 billion, General Motors $36.2 billion, Ferrari U.S. stock market $42.4 billion, Ford Motor Co. $24.2 billion, Fiat Chrysler U.S. stock market worth $20.7 billion, NIO Car $8.5 billion.

Notably, Tesla’s share price is now up more than 4,000 percent from its initial market. Tesla listed on June 29, 2010 at $17 a share, and the stock rose about 41 percent to $23.89. The stock has risen nearly 160 per cent so far this year, while the S.P. 500 and the Dow have fallen about 5 per cent and 11 per cent respectively.

Tesla shares hit a new high market value of more than $200 billion, equivalent to 5.5 Gm SGNs

Tesla CEO Elon Musk said Monday that the company could break even in the second quarter despite the global pop.

Tesla’s break-even would be a big surprise for investors, as Wall Street now estimates the company’s quarterly loss of $1.45 per share. When Tesla turned a profit last year, Musk said he believed the company could make a profit or even break even every quarter in the event of any major economic downturn.

In addition, the $4.6 billion ETF, which holds the largest share of Tesla stock, recorded nearly $180 million inflows last week, the largest inflow since trading began in 2014. For the 17th week in a row, the fund recorded inflows, with $1.7 billion inflows in 2020, a period in which the fund surged nearly 40 per cent.

Credit Suisse analyst Dan Levy has previously said Tesla’s sales were strong in June, with deliveries likely to reach 9-100,000 units in the second quarter, according to recent reports. Meanwhile, Dan Levy expects about 31,000 of the 90,000 to 100,000 deliveries from China, less than 35,000 from Fremont and about 25,000 from global inventories.