Tesla's shares were trading at $460 before the opening bell, up from $408.09 per share at the end of Monday's regular trading. The company's stock is up about 335% year-to-date, compared to the broader S&P 500's 11% rise.
On December 21, the company will join the prestigious S&P 500 index - one of the most important measures of success of America's largest publicly-traded firms.to about $117 billion after the announcement, when its stock rose 15% in after-hours trading. Musk is set to become the world's third-richest person, outranking Facebook's Mark Zuckerberg who currently has a net worth of $106 billion.
"This sort of gain is actually more than the market cap of Moderna which is pretty stunning," Deutsche Bank analysts said, referring to the market value of the US drugmaker who, on Monday, unveiled the success of its COVID-19 vaccine candidate.in September this year when Etsy, Teradyne, and Catalent were announced as new entrants to the index. They replaced H&R Block, Coty, and Kohl's.
Elon Musk and his team reiterated their full-year target of delivering 500,000 vehicles. Meeting that goal would require the company to produce about 181,000 cars in three months, which is 29% more than their quarterly record.
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