Tesla Inc.’s stock soared 0.4% in morning trading, marking a historic win streak that has propelled it to its first record close in three years. The company’s market capitalization has increased by $240 billion during this period, making it the seventh most-valuable US company.
The recent surge is largely attributed to Tesla’s robotaxi business, which has been confirmed as a significant revenue stream. Analysts estimate that the autonomous driving story, on which Cybercab is built, could be worth $1 trillion on its own.
CEO Elon Musk’s wealth has also seen a significant boost, with his net worth increasing by over $53 billion due to Tesla’s recent win streak. This gain has cemented his position as the world’s richest person, according to the Bloomberg Billionaires Index.
Since the presidential election, Tesla’s stock has risen 69.5%, adding $561.3 billion to its market capitalization and making Musk $125 billion richer.
Source: https://www.marketwatch.com/story/teslas-stock-keeps-rising-toward-another-record-as-valuation-tops-1-3-trillion-51075f91