Tesla briefly reached a market value of one trillion dollars

The giant of electric vehicles Tesla it briefly reached a trillion dollars in market value on Monday after a large purchase order from the car rental company Hertz.

Around 5:35 p.m. GMT, Tesla shares rose 9.3% to $ 994.22, giving it a market value of just under the trillion dollars it had hit shortly before.

The stock spike came after Hertz announced a purchase order for 100,000 Tesla cars in late 2022.

The Hertz order followed the strong earnings reported by Tesla last week and both showed the strength of the company despite the semiconductor shortage that has affected others the most vehicle manufacturers.

The main analysts of Morgan Stanley they raised their projection on the evolution of the company’s shares from 894 to 1,200 dollars after highlighting its “extraordinary” income in the last quarter, despite the problems of the supply chain.

A note from Morgan Stanley predicted that in the next 12 to 18 months Tesla would “demonstrate” its ability to reach a trillion dollar value as it increases its production and its offering of models and services.

Greed for Tesla’s stock dismissed a warning from US authorities to the company for failing to implement some suggested recommendations for its autonomous driving program.


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