Soaring Tesla Share Price Creates Millionaires in Company
Tesla shares witnessed a soaring price in the past couple of years and this has paved the path to creating several millionaires in the company and they are proudly being called Teslanaires. Since 2000, the rise has been at least 700 percent and the company is now the most valuable carmaker in the world.
However, long-term investors found the journey a roller-coaster and some wild savings came across. Those who were loyal to the company experienced a wealthy journey.
April 2022 has been a milestone for Tesla. It became a constituent of the S&P 500 index where US giants like Facebook, Microsoft and Apple hold good positions. It is now being considered one of the best companies on the index.
Currently, the Tesla stock is worth more than that of Toyota, Fiat, Ford and GM together in the car industry even though it produces just a fraction of the rivals.
The company has a polarizing stock with established fans and a set of loyal customers who owns the cars. It simultaneously is equipped with a set of critics and most of them argue the shares are simply overvalued.
Much of the growth in its share price is the result of improved car sales that has been due to good demand from China. It is on the better side as the world is shifting focus towards electric vehicles.
The company went public in 2010 and the share price then was $17 per unit. Today, the price is swinging around $650 per unit. Moreover, it is not to forget that the current price is after a stock split by 5-for-1 in 2021. The split increased the circulation of shares.
Tesla rarely advertises its products. The company has gained popularity mainly from controversies. Comments and tweets of its chief Elon Musk have usually hit the headlines, attracting renewed controversies always.