So TSLA added the market cap of GM today on a gamma squeeze. Totally normal folks, nothing to see here
Breaking 1000 and having the top selling vehicle in Europe last month are giant achievements for TESLA. Congrats to Musk, without whom it wouldn't have happened. I hope -but doubt- that the detractors learned a lesson in humility. Next step, 2k
ELECTRIC VEHICLES Tesla hits $1 trillion dollar market cap after Hertz order In the US, only Apple, Amazon, Facebook, Google, and Microsoft have ever received the ticket to the four commas club. OCTOBER 26, 2021 MATTY MERRITT Become smarter in just 5 minutes While most of us spent yesterday eating all the candy we planned to give out on Halloween, Elon Musk was busy making auto history. After Hertz ordered 100,000 of Tesla’s electric vehicles, the automaker’s share price jumped 12.7%, giving it a market capitalization of $1 trillion. Only Apple, Amazon, Facebook, Google, and Microsoft have ever received the golden ticket to the four comma club in the US. Facebook hit $1 trillion the fastest of all (within 17 years of being founded), but Tesla is currently worth about $83 billion more than the social media company. It took Tesla 18 years after its founding to reach the milestone. Tesla + Hertz = Largest Deal EVer Last spring, when no one was traveling and rental cars sat idle in parking lots, Hertz filed for bankruptcy. But like a phoenix rising from the charred remains of a 2019 Chevy Malibu, the rental car company reorganized and said, “No going home, just going big.” How big? Hertz’s purchase of the Teslas, reportedly worth $4.2 billion, is the largest EV deal in history. With it, Teslas could make up over 20% of Hertz’s entire fleet while offering the EV-curious more opportunities to test them out. Hertz Interim CEO Mark Fields said that “electric vehicles are now mainstream” and adoption has only just begun. Zooming out on the auto race It’s not even close. If we’re measuring by market capitalization, which is used to approximate a company’s worth, Tesla is Lewis Hamilton and the competition is your grandma. Tesla is worth as much as 19 other automakers, including Toyota, GM, Honda, and Nissan, combined. Tesla’s value is 15x higher than Ford’s, even though Ford brought in $115+ billion more in revenue last year. Tesla’s wide lead over its rivals shows that investors believe the future of the auto industry lies in electric vehicles, and that Elon Musk’s company is poised to capture a big chunk of that market. As for Mr. Musk...he’s shopping with the price filter set high to low. Thanks to Tesla’s surging share price, Musk’s fortune increased by $25.6 billion yesterday to hit $255.2 billion—richer than any billionaire Forbes has ever tracked. © 2021 Morning Brew, Inc. All Rights Reserved.
Elon is more than just that. https://www.cnn.com/2021/10/26/investing/elon-musk-exxonmobil-net-worth/index.html
The buyers were more aggressive than the sellers. And as for why that's the case - possibly hope and hype around fully self driving cars https://seekingalpha.com/news/40928...fleet-could-make-non-autonomous-cars-obsolete