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Tesla Becomes Market Cap Behemoth Ahead of S&P 500 Listing

Stock Markets Nov 27, 2020 10:59AM ET
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© Reuters.

By Christiana Sciaudone

Investing.com --  Tesla (NASDAQ:TSLA) has surpassed Berkshire Hathaway (NYSE:BRKa) in market cap and now ranks behind just the behemoths of tech like Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN), Alphabet (NASDAQ:GOOGL) and Facebook (NASDAQ:FB).

The stock is up more than 600% year-to-date and the market cap stands at about $564 billion. All of that excitement has made founder Elon Musk the second-richest person in the world, according to Bloomberg. 

The electric vehicle maker is up 3% on Friday ahead of joining the S&P 500 on Tuesday.

Reuters reported earlier this week that traders bought and sold an average of nearly $26 billion of Tesla shares per session over the five days ending on Tuesday, accounting for almost 8% of all stock traded on U.S. exchanges, according to Refinitiv data. That is more than the combined value of trades in Amazon and Apple over the same period.

Yesterday, Reuters said Tesla plans to start making electric vehicle chargers in China next year as part of its mission to increase sales there.

Tesla plans to invest 42 million yuan ($6.4 million) in a new factory near its car plant in Shanghai, according to a document submitted to the Shanghai authorities and seen by Reuters. The factory will have capacity to make 10,000 chargers a year. China offers hefty subsidies for electric vehicles. The company sold over 13,000 vehicles in China last month.

 

Tesla Becomes Market Cap Behemoth Ahead of S&P 500 Listing
 

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Comments (12)
Christopher Atkinson
Christopher Atkinson Nov 27, 2020 7:45PM ET
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I’m happy for being able to get back my money from Forex platform. I’m currently investing and earning a lot.
Philip Chan
Philip Chan Nov 27, 2020 7:19PM ET
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I'm confused. is tsla joining s n p 1st of 21st or something i missed
Zachary InVen
Zachary InVen Nov 27, 2020 5:48PM ET
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what call should I get in next week
Rodney Mulaudzi
Rodney Mulaudzi Nov 27, 2020 5:24PM ET
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Help me trade I am a beginner
Meself Meself
Meself Meself Nov 27, 2020 2:52PM ET
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1000 Tuesday!
Phillip Hoang
Phillip Hoang Nov 27, 2020 11:41AM ET
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As an Engineer, Tesla tech is game changing. Tesla is the next Apple and is going to be a multitrillion dollar company.
James Theme
James Theme Nov 27, 2020 11:41AM ET
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Another engineer here. It is.
issen van
issen van Nov 27, 2020 11:41AM ET
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James Theme Who is gonna buy $50k electric cars?
Lukas Sztefek
Lukas Sztefek Nov 27, 2020 11:41AM ET
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Engineers.
Marco cuevas
Marco cuevas Nov 27, 2020 11:41AM ET
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I don't know I got in in July and never looked back I say get in now or wait for the next split I say it hits 600 before the end of trading today.  Also S&P has to swallow millions of shares which means >>>$$$$$$
Zach Lohman
Zach Lohman Nov 27, 2020 11:35AM ET
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It’s “The Cult, Beyond Good & Evil.” I bought ARK a while back. That way I have some exposure to this crazy thing without risking a complete blowup.
issen van
issen van Nov 27, 2020 11:35AM ET
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BPTRX
Frank Castle
Frank Castle Nov 27, 2020 11:15AM ET
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Lots of shorts going bankrupt today.
Mark Hunter
Mark Hunter Nov 27, 2020 11:14AM ET
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I couldnt say anything but wooooooooow
 
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