Tesla has become a major player on the stock market. Its value has skyrocketed, making it worth more than all other car brands combined.
This has happened in large part due to recent events, especially after the U.S. presidential election, reports Boosted.
Tesla’s stock value reached 1.36 trillion dollars at the close of the market on Wednesday. This is roughly 9.35 trillion Danish kroner.
The company’s total value is now higher than the combined value of 42 other car manufacturers, which is about 1.26 trillion dollars or 8.65 trillion kroner.
To put this in perspective, the Norwegian oil fund, one of the largest in the world, is worth around 19.9 trillion Norwegian kroner or about 13.65 trillion Danish kroner.
In the last six months, Tesla's stock has grown by 139 percent. A sharp drop in October was followed by a 68 percent rise after the U.S. presidential election on November 5.
Previously, Tesla's value was close to the top 8-10 car companies. Now, the company stands far ahead of its competitors.
BYD, a Chinese car maker, has seen a 25 percent increase in stock value in the last six months.
Meanwhile, Volkswagen has experienced a 25 percent drop during the same period. Toyota, the world's largest car manufacturer by sales, has also seen a decline, but it is limited to just 15 percent.
Tesla’s success stands in sharp contrast to the more mixed results of other major car manufacturers.
While other companies have seen their values decrease, Tesla has seen remarkable growth. This makes it clear that Tesla is far outpacing its competitors.
The stock market is unpredictable and can change quickly. The value of companies can shift in minutes.
Tesla’s rise shows just how much a company’s worth can grow in a short amount of time, while other companies may struggle to keep up.
