Elon Musk excited the market and this was evident at the end of Thursday's session. Tesla posted its second-best day ever in trading since 2010. Stocks continue to rise on Wall Street and have already shaken off accumulated losses.
Tesla had its best day since 2013, with shares up 22% at Thursday's close. This has led to Elon Musk, the founder and CEO of the electric car manufacturer, seeing his wealth grow significantly.
The millionaire saw his account balance increase by $26 billion, with his wealth increasing to 270 billion euros. An astronomical amount for the “significantly small” rise of the richest man in the world, and a significant difference from second place, where Jeff Bezos stands with $209 billion.
Tesla shares have grown a lot due to the good quarterly results witnessed by the largest company pool Since 2013. Shares closed Thursday night at $260.48, a value that compares to $213.65 at the close of the previous session, meaning the company's second-biggest jump since its 2010 IPO.
Tesla has been undervalued ever since Musk, without much enthusiasm from the market, introduced… Electronic cab. The fact that there is no concrete perspective on when the Cybercab and other new autonomous features will hit the market has generally dissatisfied investors, so much so that Tesla lost a staggering $68 billion in just 24 hours.
Before the results show, in which the company highlighted 20% to 30% growth in auto sales next year, Elon Musk's Tesla was on track for its worst month since January.
However, this increase was positive for the company's entire balance in the stock market. This rally eliminated the loss felt when accumulating gains, and now stands at a gain of 5%, a value that compares with the Nasdaq's 23% rise.
And the climb continues. With Wall Street already negotiating on Friday, shares were up 3.26% at $268.97 at 3pm. We just have to wait for the end of the session to find out how much money Tesla will make.
Elon Musk's Tesla is not far behind
But if the businessman's fortune rose, the company he ran was not far behind. Tesla saw its market value rise with a 22% increase in its shares. That is, the electric car manufacturer added nearly $150 billion to its market value within 24 hours.
Specialized Wall Street publications say Tesla moved nearly 200 million shares in trading on Thursday. At the end of Thursday's session, Tesla's market value reached $854.23 billion.
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