Historical high! Has Tesla done it again?
In November, U.S. inflation data met expectations, the Nasdaq index rose by 1.77%, and Tesla's stock price increased by nearly 6%, with a market capitalization reaching $1.36 trillion, a year-to-date increase of 71%. Tesla rebounded in the fourth quarter, rising 62% since October. Musk's net worth reached $400 billion, making him the world's richest person. SpaceX reached a $1.25 billion stock deal with investors, with a valuation of approximately $350 billion
The U.S. inflation data for November met expectations, clearing the way for the Federal Reserve to cut interest rates again at next week's meeting. The Nasdaq index rose 1.77%, breaking through 20,000 points, setting a new historical high and closing record.
Tech giants collectively rose, with Tesla up nearly 6%, reaching a historical high and raising its total market value to $1.36 trillion, expanding its year-to-date gain to 71%, second only to Nvidia (181%) and Meta (79%).
Tesla's performance was lackluster in the first three quarters of this year, particularly struggling in the first quarter, with a cumulative decline of nearly 30%, marking the worst quarter since the end of 2022.
After a difficult start, Tesla experienced a turnaround in the fourth quarter, rising 62% since October, far surpassing the other companies among the seven giants.
Image: Tesla leads the seven giants since October
Tesla's strength has helped Elon Musk become the first person with a net worth of $400 billion, setting a new milestone for the world's richest person. Recent catalysts also include SpaceX and its investors agreeing to purchase $1.25 billion worth of stock from employees and other insiders, valuing SpaceX at approximately $350 billion.
Musk, who has made the right bets, is now in high spirits, what changes have occurred in Tesla's story?
Image: Bloomberg Billionaires Index
