Tesla’s market cap surpasses $ 100 billion for the first time

Tesla’s market cap surpasses $ 100 billion for the first time

January 22, 2020 0 By autotimesnews

On January 20, Tesla called “an absolute lie” a story about problems with the sudden inadvertent acceleration of its electric vehicles, expressly stating that the petition filed with the National Highway Traffic Safety Agency in the USA (NHTSA) demanding the recall of all the company’s cars was the work of the shortsellers, desperately trying to collapse rapidly growing against the backdrop of success, the automaker’s stock price. Now everything indicates that the truth is on the side of Tesla, whose cars are among the safest in the world (just remembered about it yesterday), and this story led to the opposite effect – stocks rose sharply even more.

As a result of the trading session on the NASDAQ stock exchange on January 21, Tesla’s stock price rose 7.2%, reaching $ 547.2 per security. After the close of the main trading session, stocks continued to rise in price, reaching $ 555.1 apiece. As a result, Tesla’s market capitalization exceeded the milestone of $ 100 billion ($ 100.1 billion). Up to this point, not a single American automaker has been able to step over the $ 100 billion mark in market capitalization. Now Tesla is not just more expensive than Ford and GM combined, it is almost equal in terms of market capitalization to the world’s largest German concern Volkswagen AG ($ 100.6 billion). The increase in Tesla’s stock price looks even more impressive if you recall that in June 2019, it set an anti-record of $ 177.

Recall that since 2018, the head of Tesla, Elon Musk, refused a salary in the classical form in favor of a special program of paying remuneration for achieving specific goals and indicators. Approved by the board of directors, the option plan involves the payment of 12 tranches in the amount of 1% of the number of Tesla shares. And the condition for the payment of the first tranche is just the achievement of $ 100 billion of market capitalization. So if Tesla’s market capitalization is above $ 100 billion long enough, which few people now doubt, then Musk will receive the first tranche – $ 346 million.