Value of Tesla after rental group Hertz said it had ordered 100,000 Tesla Model 3 sedans to electrify its fleet. Tesla’s shares closed 12.6 % higher on October 25 at $1,024, bringing year-to-date gains above 40% and lifting the company’s market cap past $1 trillion. The move came hours after Hertz announced the Tesla deal in a push to electrify its fleet of rental cars. Tesla overtook Toyota in July 2020 to become the world’s most valuable carmaker by market value. Since then, its value has increased five-fold with the company now worth more than the next nine most valuable public carmakers combined, according to The Financial Times. Tesla is the sixth American company to hit a trillion-dollar valuation following Apple, Microsoft, Alphabet, Amazon and Facebook. |