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Buoyed by a glowing earnings report and supercharged by the news that Hertz is buying 100,000 Tesla cars in 2022, TSLA has today closed at $1,024.86 per share, valuing the company at $1.01 trillion dollars.
Throughout the company’s history, Tesla has defied critics who have been expecting them to go bankrupt any minute while they fight the hard fight of electrifying the world’s transport. The trillion-dollar valuation will likely be seen as vindication by many that success is now inevitable.
Telsa has received other good news today, with the company’s cars reported to be the best selling vehicles in Europe in September, beating out stalwarts such as VW.
Telsa is now worth more than Facebook, and the CEO appropriately celebrated the news on Twitter with the tweet below.
— Elon Musk (@elonmusk) October 25, 2021
Of course, as can be seen, by the graph below, the company tested these heights before (though with a less rosy balance sheet), so it remains to be seen if the company can maintain its share price over the long term, but as many short sellers have discovered over the years, it’s probably a bad idea to bet against Elon Musk.