Home / Business / Tesla’s stock continues to rise after rising 74% in August and posting its biggest monthly gain in 7 years

Tesla’s stock continues to rise after rising 74% in August and posting its biggest monthly gain in 7 years



Shares of Tesla Inc.TSLA,
+ 12.56%
extended its most recent rocket ride by 6.3% in premarket trading Tuesday, putting it on track to open in record areas well above the $ 500 mark. The stock was up 12.6% to a record on Monday after a 5-for-1 stock split went into effect, and ended August with a monthly gain of 74.2%. That was the best monthly performance since rising 81.1% in May 2013 and the second-best monthly profit since going public in June 2010. The electric vehicle maker also ended August with a market cap of $ 464.3 billion the seventh best valuable US company. This has helped Tesla CEO Elon Musk become the third richest person in the world according to the Bloomberg Billionaires Index. Tesla̵

7;s stock is up 1,004.4% in the past 12 months through Monday, while stocks of other electric vehicle maker, Nio Inc. NIO,
+ 2.86%
are up 565.4% and Workhorse Group Inc. WKHS,
+ 10.49%
rose by 330.2% in the same period. The S & P 500 SPX,
-0.21%
has gained 19.6% in the last 12 months.


Source link