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Tesla returns to the $1 trillion club

admin 2021.12.22 19:27 Views : 34

Musk says stock sales are almost done

Tesla stock jumps more than 7% and retakes $1 trillion market capitalization, $1,000 share price after CEO tells satirical website that he has completed his stock sales

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Tesla Inc. is once again worth $1 trillion, after Chief Executive Elon Musk said he is about done selling shares.

 

Tesla (TSLA) shares roared 7.5% higher to $1,008.87 Wednesday, pushing share prices higher than $1,000 and the electric-car company's market capitalization -- the value of all shares -- past $1 trillion. After first topping that plateau in October, Tesla fell lower than that mark on Dec. 13, part of a slide that put the volatile stock into a "bear market" for the third time this year. The shares will remain in a bear market until they move 20% higher than their most recent low, which would mean a share price of $1,079.93, according to Dow Jones Market Data.