Tesla shares briefly topped $2,000 on Thursday, capping a remarkable run that has seen them skyrocket more than 360 per cent this year.
The electric automaker’s stock rallied more than 6 per cent in intraday trading, bringing the company’s gains to just under 19 percent for the week.
Tesla’s market cap now sits at $372 billion, making it the most valuable carmaker in the world by far. The rally added an additional $4.2 billion to the net worth of CEO Elon Musk and brings his fortune to $89.5 billion, according to Forbes.
Musk has added $62.4 billion to his net worth since the beginning of the year thanks to Tesla’s supercharged stock performance.
Tesla earlier this month announced a 5-for-1 stock split, which will go into effect on Aug. 28 in an effort “to make stock ownership more accessible to employees and investors.”
At $2,000 per share, the stock split would make each new share of Tesla worth $400. Shares were worth $430 to start the year.
Tesla’s rally settled a bit after hitting $2,000, and the stock was trading up 6.2 per cent at $1,995.94 Thursday afternoon.
NY Post
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