Tesla Hits $1 Trillion Market Cap for First Time, Shares Near $1,000

Earlier on Monday morning, shares of Tesla opened to new all-time highs, and eventually the company’s market cap touched $1 trillion for the first time ever, when shares reached a historic $998.74.

Tesla joined Apple, Microsoft, Saudi Aramco, Alphabet and Amazon as the only companies to reach a $1 trillion market share.

Breaking: Tesla is now a $1 trillion company.$TSLA Stock Price
2016: $40
2021: $998 (+2,395%)

Don't bet against innovation.

— Joe Pompliano (@JoePompliano) October 25, 2021

Update: $1 trillion market cap secured @elonmusk 🥳 https://t.co/UJmydnk3dt

— TeslaNorth.com (@RealTeslaNorth) October 25, 2021

As of writing, Tesla shares are trading at $994, up 9.3% for the day. Tesla saw some positive news on Monday, as Hertz announced it would be ordering 100,000 of the company’s electric vehicles for its rental fleet.