Tesla has reached an impressive standing in the stock market, surpassing the collective worth of all other car brands globally. As trading wrapped up on Wall Street Wednesday, Tesla’s shares jumped by 5.9 percent, resulting in a market capitalization of $1.36 trillion.
In contrast, the total value of 42 other automakers and groups with substantial auto production, either currently or recently, amounts to $1.26 trillion.
Tesla shares have seen significant growth in recent months. Over the past six months, the share price has increased by 139 percent. After a significant drop in mid-October, the price has increased by 68 percent since the US presidential election on November 5. In the past, Tesla’s market capitalization was on par with the 8-10 most valuable competitors. Now, however, Tesla has significantly distanced itself from the rest. Elon Musk’s involvement in the campaign of the new US President Donald Trump has already paid off.
While Tesla has seen strong growth, Chinese automaker BYD has risen just over 25 percent in the past six months, while Volkswagen Group has seen a similar 25 percent decline in the same period. Toyota, the world’s largest automaker by number of vehicles sold, has also fallen 15 percent in the past six months. The stock market operates by different rules.
