There was triple record on Wall Street: Tesla surpassed Facebook in capitalization

Tesla shares closed the session with an advance of 7.94%, to 816.99 dollars, placing the capitalization of the company at about 773,000 million dollars, compared to slightly more than 765,000 million of Facebook, which gained a 2.06%.

Only Apple, Microsoft, Amazon and Google now exceed the market value of Tesla, which appreciated more than 700% during 2020.

Thanks to this, its founder and CEO, Elon Musk, also surpassed Amazon boss Jeff Bezos on Thursday as the richest person in the world, according to the real-time list prepared by Bloomberg.

Musk has seen his fortune multiply over the past year, rising more than $ 150 billion thanks to Tesla’s Wall Street rally, of which he owns about 20% of the share, plus options for worth about $ 42 billion.

Over the past year, Tesla went from being a company that caused doubts among investors to becoming one of the giants in the market, all despite the fact that it remains a marginal company in terms of production and sales volume.

Despite this, it has managed to be by far the most valuable automaker in the world, benefited by its technological nature, a sector that in recent months has exploded on Wall Street and by its recent inclusion in the S&P 500 index.

During 2020, Tesla managed for the first time to manufacture more than half a million vehicles and increased its sales by 36%.

In the third quarter of the year, the Californian company obtained the best results in its history, with a net profit of 331 million dollars, 218% more than in the same period of 2019, which allowed it to accumulate profits until that date of 435 million dollars in nine months.

There was a triple record

Wall Street closed with gains on Thursday and its three main indicators recorded all-time highs after the US Congress confirmed Joe Biden as president and the Democrats won a majority in the Senate for his victory in Georgia.

According to provisional data at the end of the session on the New York Stock Exchange, the Dow Jones of Industrials rose 0.69% or 211.73 points and stood at 31,041.13 integers, a level never seen, driven by large listed companies such as Walgreens (5.18%), Apple (3.41%) and JPMorgan Chase (3.28%).

Also in records, the selective S&P 500 rose 1.48% or 55.65 points, to 3,803.79 units, and the Nasdaq composite index, which brings together the most important technology companies in the market, advanced a solid 2.56% or 326.69 points, up to 13,067.48 units.

G. Febres

With information from EFE, Bloomberg and other international media