Tesla shares hit an all-time record

Tesla shares hit an all-time record

Tesla shares hit an all-time record of $907

Shares of the electric car company Tesla have hit an all-time high of $907.56, according to the NASDAQ stock exchange. The previous price high was in January 2021 at $900.4.

 

Tesla shares soared on the release of the company's quarterly earnings report on Oct. 20. The company's net income was a record third consecutive quarter of $1.618 billion. Compared to the previous quarter, revenue was up 389 percent and showed a five-fold increase compared to the same period in 2020 (then the figure was $331 million). The auto giant's revenue soared 57 percent to $13.8 billion (versus $8.8 billion a year earlier).

 

After this information appeared in the media, Tesla stock suddenly fell 1.62 percent on the post-market, to $851.8 per paper. The next morning, however, the value of the company's securities began to rise. By the time the news was published, shares of the electric car giant were trading at $907.

 

Tesla founder Elon Musk may become the world's first trillionaire thanks to his other project, the space company SpaceX, Morgan Stanley analyst Adam Jonas believes. Currently, Musk is the richest man in the world: his fortune is estimated at $ 241.4 billion, the share of SpaceX is less than 17 percent.

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