NEW YORK: Tesla’s market value soared to more than US$500 billion Tuesday ahead of its listing on the S&P 500, with its stock finishing up 6.4% or by nearly US$32 billion in 24 hours.
Tesla is riding a wave of enthusiasm from investors who see the electric car maker’s future as bright. The announcement that Tesla will be listed on the prestigious S&P 500 index as of Dec 21 has added to the momentum. That “is critical as the company continues to build new factories and deliver on its goal of increasing annual auto volumes by 40x over the next decade”, from 500,000 units in 2020 to 20 million in 2030, the specialist said.
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