Shares of Tesla Inc.
surged more than 7% on Tuesday, pushing the Silicon Valley car maker’s valuation above $200 billion, ahead of second-quarter sales numbers expected this week. A close around current levels would be another record for the stock, which ended at an all-time high of $1,025.05 on June 10. Tesla’s market cap hovers at $201 billion, closing in on Japan’s Toyota Motor Corp.
as the world’s highest valued car maker. Toyota’s market cap is at $214 billion. Tesla is slated to report second-quarter deliveries, its proxy for sales, in the coming days, with analysts polled by FactSet expecting sales of 72,000 vehicles, of which 61,000 would be Model 3s. Tesla shares have gained 159% this year, contrasting with losses around 5% and 11% for the S&P 500 index
and the Dow Jones Industrial Average
Credit: Source link