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Tesla Tops $460 Billion Market Cap

By Staff Writer September 02, 2020

According to data presented by StockApps.com, the market capitalization of the world’s most valuable car company, Tesla, hit over $460 billion this week, almost seven times more than Ferrari, Porsche and Aston Martin combined. 

The company’s stock price surged by nearly 200 percent in the last three months and it’s up about 500 percent on the year, despite a 4.9 percent revenue drop in the second quarter of 2020.

One of the reasons for such a premium valuation is Tesla’s ability to convince investors that it’s much more than just an automaker and plans to make its vehicles capable of deploying into an autonomous “robotaxi” ride-sharing service. 

Tesla's CEO Elon Musk
Tesla's CEO Elon Musk

In December 2019, Tesla’s market cap stood at $75.7 billion, revealed the YCharts data. By the end of the first quarter of 2020, this figure rose to $96.9 billion, despite the COVID-19 crisis. Statistics show Tesla market cap surged by 107 percent in the next three months by the end of June. At the beginning of this week, it jumped over $460 billion, which is four times the IBM market cap. Since the beginning of the year, the Tesla market cap has soared by 513 percent.

The disruptions of the COVID-19 pandemic caused the Italian supercar maker Ferrari to close its factories for seven weeks. The Q2 2020 financial report revealed a 42 percent plunge in revenue year-on-year and halved shipment of vehicles due to both production and delivery suspensions.

Nevertheless, the Italian luxury carmaker has performed better than most other car manufacturers and remains confident of a bounce-back in the second half of 2020 thanks to its strong order book.

Statistics show the combined value of shares of Porsche dropped by 19 percent in the last eight months, with the figure falling from $23.1 billion in January to $18.7 billion this week.

Statistics show Aston Martin more than quadrupled its operating loss for the first six months of 2020 after a sharp fall in sales and revenue amid the COVID-19 pandemic. The British sports car manufacturer sold just 1,770 vehicles in the first half of the year. Moreover, the company’s market capitalization halved in 2020, with the combined value of stocks falling from $1.6 billion in January to $760.2 million in August.

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Last modified on Wednesday, 02 September 2020 13:14

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