Photo: Tesla
Disney, with its huge entertainment empire that spans from screens to theme parks. Coca-Cola, with its still secret recipe that sells billions. Toyota, with the tens of cars it now has on the market. None of them stood a chance on Wednesday when Tesla passed them all at full speed to become the world’s most valuable auto company.
At one point during the day of July 1, Tesla stock jumped to $1,120 per share, meaning the market worth of the California-based company surpassed that of most of the companies included in the S&P 500 index.
The list of names Tesla trashed on Wednesday include all of the above, but also Cisco, Merck or Exxon Mobil, but also another of Musk’s creations, PayPal. In fact, this list includes all but 19 of the companies included in the S&P 500 index.
According to CNN Business, among the companiess that are still worth more than Tesla is AT&T, CNN’s parent entity.
Tesla is not included in the S&P 500 list because it is not profitable enough on a constant basis, but that doesn’t diminish Wednesday’s achieved. At the time of this writing, Tesla’s shares are worth even more than Wednesday, a little under $1,200, a clear sign the spike recorded yesterday was not a fluke and the trend will likely continue.
Battle with the giants of the S&P 500 aside, Tesla is now the most valuable car company in the world. Considering it has just a handful of models on the market, that could mean for some that all this is just a soap bubble that exists only because of promises made.
You must take into account though that when it went public ten years ago, the stock of a single share was worth a measly $17. Since then, it constantly grew, despite production flukes, Elon Musk’s crazy tweets, and an overall aversion of the industry for all things Tesla.
The list of names Tesla trashed on Wednesday include all of the above, but also Cisco, Merck or Exxon Mobil, but also another of Musk’s creations, PayPal. In fact, this list includes all but 19 of the companies included in the S&P 500 index.
According to CNN Business, among the companiess that are still worth more than Tesla is AT&T, CNN’s parent entity.
Tesla is not included in the S&P 500 list because it is not profitable enough on a constant basis, but that doesn’t diminish Wednesday’s achieved. At the time of this writing, Tesla’s shares are worth even more than Wednesday, a little under $1,200, a clear sign the spike recorded yesterday was not a fluke and the trend will likely continue.
Battle with the giants of the S&P 500 aside, Tesla is now the most valuable car company in the world. Considering it has just a handful of models on the market, that could mean for some that all this is just a soap bubble that exists only because of promises made.
You must take into account though that when it went public ten years ago, the stock of a single share was worth a measly $17. Since then, it constantly grew, despite production flukes, Elon Musk’s crazy tweets, and an overall aversion of the industry for all things Tesla.
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