If you live on this rock called earth you must know about Tesla. The baby boy of Elon Musk an Electric car manufacturing company. They are the ones who made the concept of self-driving cars into reality. Their electric vehicles are one of the best and expensive cars in the world. This sure ought to make the company valuable. Well, that is what we are going to talk about today. Recently Tesla Stock Price Reach $1 Trillion in the market. In this article, we will tell you all about the tesla stock Price and how it managed to reach $1 trillion. If you are someone who is interested in stock market details and want to know more about it. Then read the article from start to end.
Tesla Stock Price Reach $1 Trillion
On Monday the news broke that Tesla stock Price crossed $1 trillion valuations in the stock market. We all knew that the company will hit that mark but it will happen this soon no one knew. We should tell you that only after 11 years of the company being traded publically has it reached a $1 trillion valuation. Now the company is competing against tech giants like Google, Apple, Amazon, and Facebook. Because all of them have a valuation of more than $1 trillion.
We should tell you that Tesla stock Price was trading at $998.22 before it touched its valuation. Later that day before tesla stock Price reach $1 trillion its share price increased more than $1000 dollars. The share price of the company increased 12.66% and it closed at $1024 dollars. We should also tell you that this is the first time Tesla Stock has crossed $1000.
Reasons behind it crossing $1 trillion
There are several reasons behind the company crossing its valuation. Several news reports about Tesla propelled the stock up on Monday, including the announcement that rental giant Hertz, which just emerged from bankruptcy, had committed to acquire 100,000 electric vehicles from the carmaker. The $4.2 billion agreement will increase the auto rental giant’s electric vehicle options to 20% of its global fleet. According to Hertz, Tesla Model 3 vehicles will begin to appear in the rental fleet as early as next month in key U.S. regions and select European locations.
Another reason behind tesla stock Price reaching $1 trillion is its target reaching $1200 from $900. The $300 Increase in its target led the people to believe that something big is going to happen and that is why its valuation increased by more than $1 trillion.
Will this affect Dogecoin and Bitcoin?
When we ask what it could mean in terms of the crypto market there are only positive things to consider as of now. Since Tesla is brainstorming a way to accept Dogecoin and other cryptos. We can say that the price of these coins must increase after that. Tell us what do you think will happen now that the tesla stock Price reaches $1 trillion.
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