After a colossal order from the rental company Hertz, the market capitalization of the American manufacturer of electric cars has reached a new record, to the greatest benefit of its boss.
The American car manufacturer of electric cars Tesla joined this Monday the very select club of companies worth more than 1,000 billion dollars on the stock market. It is a mega-order, of 100,000 vehicles by the end of 2022, by the rental company Hertz, which allowed him to obtain this entry ticket.
Elon Musk’s group’s stock soared 12.66%, ending at $1,024.86 on Wall Street, giving it a market capitalization of $1,029 billion. Only Apple, Microsoft, Google and Amazon are currently more expensive on the New York market. And Tesla is worth 12 times more than the largest car seller in the United States, General Motors.
Investors shrugged off a new alert issued by the US Transportation Safety Board, the NTSB, which on Monday sharply criticized the group for ignoring its recommendations on its driver assistance system .
This outbreak also consolidates the place of the richest man in the world for Elon Musk, who according to the firm Factset, owns approximately 17% of the shares of the company. His fortune rose $36 billion on Monday to $289 billion, according to the Bloomberg Billionaires Index.
Tesla supplants the Renault Clio
The stock had already climbed after the publication of results last week for the manufacturer, which again experienced record third-quarter sales and profits, despite the problems of supply and shortage of semiconductors which affect the whole of the automotive industry.
Other good news for the manufacturer: the Tesla Model 3 ranked at the top of the best European sales in September, ahead of the Renault Clio and the Dacio Sandero. A historic first for a 100% electric car.
For the boss of the Hertz car rental company, these electric vehicles “have become mainstream products”. Hertz is betting heavily on this new strategy, even hiring American football star Tom Brady to promote it. With Tesla, electric cars should represent more than 20% of its fleet.
“An order of this magnitude […] highlights the progressive adoption of electric vehicles in the United States”, notes Wedbush analyst Dan Ives. The country appears to be catching up with China and Europe, he said.