On Wednesday, Tesla’s stock had jumped nearly $400 billion USD in valuation over a 12-day period, marking the single largest 12-day gain in capital market history, according to Fortune.
The company’s market value jumped from $818 billion USD to about $1.21 trillion USD for an increase of about $392 billion USD, to be specific.
The increase came following Tesla’s strong Q3 earnings report on October 20, before Tesla, before the company’s stocks rose and caused the company to surpass $1 trillion USD in market capitalization as the company’s stock neared $1,000 just two days later.
Tesla’s Fremont Factory Lot Full of Waiting Model S, Model X Vehicles [VIDEO] https://t.co/i62ptWT8Ay
— TeslaNorth.com (@RealTeslaNorth) November 2, 2021
Then, news of the Hertz deal for 100,000 Teslas was reported and caused a 13 percent gain to $1,025 for Tesla’s stock. Then, Elon Musk confirmed that a contract hasn’t yet been signed with Hertz, emphasizing that the deal had “zero effect on [Tesla’s] economics.”
In its joining of the one-trillion dollar market cap club, Tesla joins mega-companies Apple, Amazon, Microsoft and Alphabet (Google), which all landed $1 trillion USD market caps about a year ago – though they started much closer to the milestone than Tesla’s nearly $400 billion USD rocket launch into its current positions.
As of the time of writing, Tesla’s share price is trading at $1,164.41, with the company still sitting at a $1.18 trillion USD market capitalization.
