EVANNEX President Matt Pressman weighs in on positive market reaction to Tesla earnings.
Tesla is now worth over $1 trillion in market value.
The electric vehicle maker crossed the milestone early Monday afternoon as investors drove the stock over $1,000 per share. The company is the first to reach this level in just two trading days.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA, INC. | 1,026.60 | +116.92 | +12.85% |
Shares have advanced 44% so far this year, ballooning the net worth of CEO Elon Musk, the world’s richest person, to over $252 billion, as tracked by Forbes.
FILE PHOTO: Tesla CEO Elon Musk unveils the Roadster 2 during a presentation in Hawthorne, California, U.S., November 16, 2017. Tesla/Handout via REUTERS/File Photo (Reuters)
Tesla is now the 6th U.S. company to close above the $1 trillion milestone, joining Apple, Microsoft, Alphabet, Amazon, and Facebook as tracked by Dow Jones Market Data Group.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE, INC. | 148.53 | -0.16 | -0.11% |
| MSFT | MICROSOFT CORP. | 308.28 | -0.88 | -0.28% |
| GOOGL | ALPHABET, INC. | 2,749.38 | -1.95 | -0.07% |
| AMZN | AMAZON.COM, INC. | 3,317.01 | -18.54 | -0.56% |
| FB | FACEBOOK, INC. | 329.10 | +4.49 | +1.38% |
Earlier in the session, rental car company Hertz announced it placed an order for 100,000 Tesla Model 3 sedans to add to its global fleet and that it has tapped NFL quarterback Tom Brady to help advertise the EV push.
ELECTRIC PORSCHE TAYCAN IS OUTSELLING 911 AND TESLA MODEL S
Last week, Tesla reported record quarterly results with revenue jumping 57% year-over-year, hitting a new high of $13.76 billion for the quarter. Tesla also reported $1.62 billion in GAAP net income, up from the $331 million it posted in Q3 of last year.
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The quarter resulted in the best-ever net income, gross profit, vehicle production and deliveries for the company.
FOX Business’ Breck Dumas contributed to this story.
