Tesla just became the sixth company in US history to be worth $1 trillion.
Shares popped more than 12% Monday to close at about $1,025, boosted by two spots of good news: Hertz announced a record order of 100,000 Teslas for its fleet, and influential Morgan Stanley auto analyst Adam Jonas recently raised his price target on Tesla to $1,200 a share.
That hefty one-day gain put Tesla just over the $1 trillion mark. That market capitalization is less than half that of Apple, the most valuable company in the world at $2.5 trillion, and No. 2 Microsoft, which is worth $2.3 trillion. Other members of the trillion-dollar club include Google parent Alphabet, worth $1.8 trillion, and Amazon, at $1.7 trillion.
Tesla is the second fastest company to hit the $1 trillion mark, reaching it just more than 12 years after its 2010 initial public offering. Only Facebook, which needed just over 9 years from its IPO to reach $1 trillion, got there faster.
Read more at CNN.
{Matzav.com}
