Tesla stock has been on a wild ride over the past few years. After being the first publicly traded car company to reach a $100 billion valuation and its recent introduction to the S&P 500 scheduled for December 21st, it’s crazy to think what could be next for the company. On Tuesday, the company passed a major milestone with Tesla’s market capitalization breaching $500 billion for the first time ever.
This news has taken Bill Gates out of the number 2 spot of richest people in the world and cements Elon Musk as being one of the most powerful billionaires on planet earth. Compared to a year ago, Tesla shares are up over 730% and they are up over 550% year to date.
Back in October, Tesla broke another company record. It was the fifth consecutive profitable quarter for the company with revenues coming in at a monster $8.77 billion. Simultaneously, Tesla had delivered 139,300 vehicles in the quarter which was also a new record for the carmaker.
At this point, the question is this: “How much more is there to go for Tesla?” “Do you believe it’s valuation could hit $1 trillion?” As it keeps smashing through previous records, along with a brilliant leader like Elon Musk- the sky could be the limit for this company over the long term.
Keep in mind, many other carmakers are pushing towards electric as well so there will be some serious competition on the horizon.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.