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Tesla share price rises above $ 500 for the first time since the split

Tesla’s share price at the auction on November 19 broke the $ 500 mark, thus setting a new all-time high. The previous record – $ 498.32 – lasted just over two months.

At the time of the news release, Tesla shares are valued at $ 501.33, up 3.02% from the previous session’s close. During trading on November 19, which has not yet ended, the share price rose to a maximum of $ 508.61. Now, this is a new maximum.

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The entire company has a market cap of over $ 474.71 billion and remains the most valuable public company in the automotive market.

Tesla shares began to rise in price after the S&P Dow Jones Indices Committee announced on November 16 about its intention to include the famous electric car manufacturer Tesla in the S&P 500 rating (Elon Musk’s company will appear the publication of a fresh edition on December 21). The rate continued to rise amid rumors that the chairman of the board of directors of Berkshire Hathaway and one of the richest people in the world, Warren Buffett, wants to buy a stake in Tesla – he allegedly intends to invest $ 11 billion.

At the same time, the fortune of the founder and head of Tesla, Elon Musk, who owns about a fifth of all shares in the company (which forms the bulk of his fortune), increased by $ 10.2 billion, to $ 92.4 billion, and he climbed to third place in rating billionaires according to Bloomberg, displacing Facebook founder Mark Zuckerberg.

  • In August, Tesla split its shares at a ratio of five to one. After trading began, taking into account the split on August 31, the shares rose to a new all-time high of $ 498.32, pushing Tesla’s market capitalization to $ 464.3 billion. This record did not last even three months.
  • By the end of this year, Tesla plans to ship 500 thousand cars (in 2019, the result was 367 500 cars) and for the first time make a profit for the whole year, and next year it may reach a sales volume of one million cars.

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