According to the latest report, since October 2020, Tesla’s stock price has soared by more than 50% in a month for the first time. The last time Tesla’s stock price rose by 50% in a month was from October 30 to November 30, 2020. In that month, Tesla was allowed to enter the S&P 500 index and was allowed to sell in China Model Y.
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Last Monday, car rental company Hertz announced that it would order 100,000 Model 3 cars from Tesla to form the largest electric car rental fleet in North America. The news drove Tesla’s share price soaring and pushed the company’s market value to more than $1 trillion, surpassing the combined market value of its five major competitors Toyota, Volkswagen, Daimler, Ford, and General Motors. Last week, the company’s stock price has risen by 22%.
Moreover, Hertz’s interim chief executive officer (CEO) Mark Fields said that Hertz may increase Tesla’s electric car orders to 200,000 units. Ganfeng Lithium issued an announcement stating that the company and its wholly-owned subsidiary Ganfeng International signed a “Product Supply Contract” with Tesla, which agreed from January 1, 2022, to December 31, 2024.
On the same day, the company and Ganfeng International supplied battery-grade lithium hydroxide products to Tesla. The actual purchase quantity and sales amount are subject to the purchase order issued by Tesla. This news pushed Tesla’s share price to continue to rise.
As of the close of US stocks on Monday Tesla’s stock price closed at US$1208.59, an increase of 8.49%, and the company’s total market value reached US$1.21 trillion.
