Tesla Retains $1 Trillion Market Cap Despite Elon Musk Selling Stock

Tesla has now become the most powerful automotive brand in the world.



Expansion see photos

Elon Musk is pulling out a substantial portion of his Tesla stock

tech news

Elon Musk recently sold nearly $8 billion worth of Tesla stock, and now the automaker has further revealed that he has exercised another tranche of 2.1 million stock options, of which he has sold nearly half. Despite these sales, Tesla holds onto its trillion-dollar-plus market cap, which also underscores the fact that it’s the most valuable automaker on the planet by nearly 4x. Next best is Toyota at $262 billion, followed by new EV startup Rivian, which was revealed to be worth more than $151 billion.

Musk revealed his intention to sell about 10 percent of his Tesla stock, which has reached an all-time valuation of more than a trillion dollars, but did so after Tesla stock soared. Musk also revealed that the stock price rose after news of the Tesla-Hertz deal for 100,000 vehicles, the CEO downplayed the report.

qu9mc9m

Tesla has a bunch of vehicles coming out like a Cybertruck

When Musk began selling the stock, Tesla’s valuation fell below the trillion-dollar mark, but then it rose above the trillion-dollar mark and has settled there. Musk revealed that he intends to sell about 10 percent of his entire holding. Tesla has now become the most powerful automotive brand in the world. It recently opened its third factory in Berlin and its Model Y rolled off production lines.

0 notes

It has also revealed new 4680 battery technology that promises to improve range, reduce production costs and be safer for its users. It has its own ADAS technology it calls Autopilot whose opinion is polarized and it also makes its own autonomous driving silicon and its algorithms to one of the world’s fastest supercomputers called Dojo.

For the latest auto news and reviews, follow carandbike.com TwitterFacebook, and subscribe to our YouTube channel.

,

Leave a Reply

Your email address will not be published. Required fields are marked *