Tesla's share price continues to rise, to the point where the value of the American brand has once again surpassed that of Toyota, the w...
Tesla's share price continues to rise, to the point where the value of the American brand has once again surpassed that of Toyota, the world's number one car manufacturer. Tesla's stock market value reached $206 million, compared with $202 million for the Japanese group.
Is Tesla the new Apple? On the stock market, it seems so. For, like its compatriot, the share value of the American car manufacturer is constantly rising. On July 1, 2020, it even reached record highs as it was trading on the Nasdaq at 1119.63 dollars, up 3.69% in Wednesday's session alone. With a share at more than $1,100, the American firm is now valued at $207.55 billion. And this at a time when Tesla's board of directors would like to oust Elon Musk.
It's a figure that seems very impressive at first glance. And it is. The company is still young: the company was founded in 2008 by Elon Musk and its first car will leave the factory in 2012. It has not yet been profitable once in a full year (but the second half of 2019 is positive). But it is worth more money on the stock market than the world's leading car manufacturer.
Indeed, yesterday, Wednesday July 1, Toyota's value on the Tokyo Stock Exchange was 6656 yen, its lowest price in recent weeks. That's a stock market valuation of around 202 billion dollars. Today, July 2, 2020, Toyota's stock has recovered slightly and is rising very slightly. But not enough to catch up with Tesla. Toyota is worth $205.8 billion.
Not the first stock market crash with Toyota
Note that this is not the first time Tesla has outperformed Toyota on the stock market. At the beginning of June, we reported in our columns that the American brand had already managed to outperform the Japanese group by a few billion dollars. Just like today. A situation that didn't last long. However, there is a good chance that Tesla will retain its position as world market leader on the stock exchange for longer this time.
Let's also remember that Tesla has come a long way. After a dizzying rise at the end of last year and in the first quarter of 2020, the Elon Musk firm had fallen sharply on the stock market in March, reaching its lowest price so far. Thanks to good prospects on the electric car market and a nice tour de force, the share gradually recovered until it reached its first historical peak on June 10 (the day Tesla overtook Toyota). A record that has since been shattered.