Tesla shares show record growth

Tesla shares show record growth

July 7, 2020 0 By autotimesnews

During the five exchange sessions, the growth in the value of the company’s shares amounted to 40%. These indicators were achieved against the backdrop of a report on a large number of sales in the second quarter.

Last week, the American manufacturer of electric cars Tesla reported on the number of cars sold for the second quarter of this year, and also shared information on car shipments. Against the backdrop of positive dynamics, the company’s shares rose sharply. Only on Monday, July 6, the growth was 13%, and during the week the company’s capitalization grew by 40%. If we talk about absolute numbers, then on Monday, the cost of Tesla grew by $ 30 billion, which exceeds the value of Ford Motor Co, which is estimated at $ 25 billion.

At the moment, a Tesla stock can be purchased for 1,500 US dollars, while a week ago they asked for 1,050 dollars. A major role in this dynamic was played by the decline in sales of other automakers. Tesla’s annual revenue by 2025 is expected to reach $ 100 billion. Toyota is the leader in this indicator with annual sales of $ 275 billion. Large American companies GM and Ford are 137 and 156 billion dollars, respectively.

However, many experts believe the price of Tesla shares is unstable – over the past year they have grown by 500%, so that in the near future a certain correction is possible.

Earlier it became known that Tesla is preparing an update of its autopilot. Presentation of new items is expected within 2-4 months.