The surge in Tesla’s shares so far this month moved Elon Musk’s company even closer to displacing Toyota as the world’s most valuable car maker.
With a market capitalisation of more than US$190-billion, Tesla still has some distance to close to reach Toyota’s $212-billion valuation, which includes treasury shares.
A rally of about another 14% in Tesla shares could see it claim the crown if Toyota holds steady, with Tesla already up 23% since the beginning of June.
It’s now worth more than twice the German rival
Tesla climbed another 9% on Wednesday to close above $1 000 for the first time as Musk, the CEO, told employees it was “time to go all out” and put its Semi truck into volume production.
Toyota’s market valuation includes the 14.3% of shares that Toyota itself holds as treasury stock, worth around $30-billion.
