Sources Contact Advanced Search Tutorials

An Interest In:

Web News this Week

Search Archive

Some of Our Sources

View All Sources

Help Webnuz

Referal links:

January 8, 2021 03:32 pm

Tesla Passes Facebook To Become Fifth Most Valuable US Company

Electric vehicle maker Tesla surpassed Facebook by market capitalization after markets opened Friday. From a report: Tesla's stock jumped about 5.5% at 9:03 a.m. ET to give it a market cap of $802.6 billion, while Facebook stock dipped. Facebook now has a market cap of about $755.8 billion. The jump makes Elon Musk's automotive venture the fifth biggest company in the large-cap benchmark when counting the share classes of Alphabet together. It now just trails Apple, Microsoft, Amazon and Alphabet. While the mark is largely symbolic, it signifies Tesla's dramatic rise over just a short period of time. Tesla became the first $100 billion publicly listed U.S. carmaker in January 2019. Just 10 months later, the company surpassed a $500 billion market cap. The stock gained more than 700% in 2020. The company joined the S&P 500 in December, wrapping up a strong year of performances. Led by Musk, Tesla has turned in five consecutive profitable quarters. Tesla delivered 499,550 vehicles in the year, and is currently building new factories in Austin, Texas and Brandenburg, Germany, among other efforts to grow its production and sales volume.

Slashdot

Slashdot was originally created in September of 1997 by Rob "CmdrTaco" Malda. Today it is owned by Geeknet, Inc..

More About this Source Visit Slashdot