Autos

Tesla (TSLA) stock hits $500 for the first time

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Tesla Inc CEO Elon Musk takes off his coat onstage during a delivery event for Tesla China-made Model 3 cars in Shanghai, China January 7, 2020.

Aly Song | Reuters

Tesla stock continued to rally Monday, rising 5% and passing $500 per share for the first time.

That puts Tesla at a fresh all-time high as it continues to soar on its entrance into China and optimistic delivery figures. The stock has more than doubled over the past three months, according to FactSet.

The recent gains bring Tesla’s market cap to about $90 billion, which is nearly $5 billion more than that of General Motors and Ford combined. The companies’ market caps, which measure the value of their outstanding equity, don’t…



Source cnbc.com

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