Tesla has many milestones in its short history. On one hand, the company has explored new and revolutionary technologies, sometimes seeming destined to fail. On the other hand, they just keep trekking on, always outdoing themselves.
There was a time, not too long ago, that CEO Elon Musk’s tweet about “Funding secured,” caused a massive stir. Maybe because it was interfering with the stock of an SEC regulated company, or maybe because some people detested the confidence in saying it would ever be worth that much money. Personally I suspect, it’s the connotation behind 420.
Am considering taking Tesla private at $420. Funding secured.
— Elon Musk (@elonmusk) August 7, 2018
That blew over in due time.
Next up we had the aftershock of that incident. When Elon tweeted his opinion of the stock price being too high. That was earlier this year, when TSLA was sitting around $700.
People assumed it violated the guidelines set forth for Musk after the settlement resulting from his previous financial tweet. No doubt, it tested the boundaries of that settlement, as well as the first amendment, and the actual price of the company’s stock.
Tesla stock price is too high imo
— Elon Musk (@elonmusk) May 1, 2020
Well, as of today, June 10th, Tesla has crossed the $1,000 a share mark. It now has a market cap of over $188 billion. That’s more than the second highest automobile company, Toyota.
Now, the market’s been strange. Tesla has raised as car sales plunge around the world due to the situation. Regardless, as other companies in the industry have been knee-capped, Tesla continues to rise.
It’s only been a little over a month since a share of Tesla would have cost you $300 less. Overvalued? Maybe. Exciting? Definitely.