Shares of Tesla Inc surged past the $2,000 mark on Thursday for the first time as the electric car maker extended its recent rally ahead of an upcoming share split.
) surged past the $2,000 mark on Thursday for the first time as the electric car maker extended its recent rally ahead of an upcoming share split.
Thursday’s surge put Tesla’s stock market value at $372 billion, greater than all but seven of the S&P 500’s components. However, with Robinhood and other brokerages increasingly letting customers by fractions of individual shares, the benefit of stock splits has become less obvious, making Tesla’s rally following the announcement of its stock split surprising to some professional investors.
Tesla will start rolling out “made-in-China” Model Y vehicles at its factory in Shanghai starting in 2021, the Global Times tweeted on Thursday, citing an unnamed executive.
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