Published 20:13 IST, January 8th 2021
Tesla's stock market value surpasses Facebook's to become 5th most valuable company in S&P
According to NASDAQ composite's market index, Tesla's market shares value hit $774 billion as it gained $40 billion, in an 8 percent record jump on Friday.
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On January 7, Elon Musk's electric automobile company Tesla surpassed Mark Zuckerberg's Facebook stock market value exceeding the market cap of $700 billion. According to NASDAQ composite's market index, Tesla's market shares value hit $774 billion as it gained $40 billion, in an estimated 8 per cent record jump Friday, becoming Wall Street's fifth most valued firm in the S&P 500 index. Tesla or TSLA's share price increase comes as the automobile company pulled record deliveries in the fourth quarter of 2020, a total of 189,750 EVs in the 4th quarter for a total of 499,550 in 2020, only trailing by 500,000 in its overall target.
Morgan Stanley analyst Adam Jonas told Investors' report that with an analysis of Tesla's soaring stock prices, which surpassed social media giant Facebook, it can be said that Elon Musk owned firm Tesla can outperform vs. Morgan sector in 2021. However, Jones cautioned that Apple's rumoured entry into the market could be a setback for Tesla's stocks. According to MarketSmith chart analysis, Tesla's stock points rose to a whopping 774 for the first time ever, surpassing well past the company's 466 buy point.
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In an interview with Investors, Jonas informed that Tesla's stock market price hike can be attributed to the firm's zero entanglements with the environmental liabilities that burden its legacy competition. Moreover, he added that Tesla's strategic model for selling is capable of generating revenue faster as the automobile firm will hit 5.2 million units sale by 2030, a 27 percent jump from the trend seen in 2021.
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Elon Musk becomes world's richest man
Musk overtook Amazon CEO Jeff Bezos and Microsoft billionaire Bill Gates as the world’s richest person this week, according to the Bloomberg Billionaire Index, the net worth of more than $188.5 billion (£136bn), approximately $1.5 billion more than Bezos. This came as Tesla reported $42 billion of gains and his Autocar manufacturer company soared 7.4 per cent at a record high of $811.61 in the share market. Musk who co-founded the US payments company PayPal now leads some of the most futuristic firms across the globe that contributed to his success, including his recent NASA Space projects.
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20:13 IST, January 8th 2021