Tesla Sets An All-Time High Record, With A Valuation Of $900 Billion

Tesla's stock reached an all-time high record of $903.32, raising the company's market capitalization to $903 billion. Despite a global semiconductor scarcity, the business recorded the greatest revenue and earnings in the third quarter.

Tesla is the sixth-largest publicly traded corporation in the United States, led by Elon Musk, the world's richest person. Tesla was a unique pure-play in all-electric automobiles and sustainable energy on the public market until recently. It attracted many individuals and institutional investors who wagered that the firm would be able to mass-produce its vehicles on time.

Tesla significantly boosted its vehicle manufacturing, reaching a significant milestone last quarter when it reached a 1 million electric car annual run rate. It raised the automaker's value to a new height of $908 billion, surpassing nearly half of the entire car industry.

The stock ended the day at $909.68, up 1.8 percent. The S&P 500 index fell 0.1 percent, while the Dow Jones Industrial Average rose 0.2 percent. Over the last three months, shares have risen by about 40%, bringing the market capitalization to $910 billion. After the firm posted better-than-expected results, Wedbush analyst Dan Ives boosted his bull-case Tesla stock price objective to $1,500 from $1,300.