Tesla’s stock price ends a continuous 13-day rise, but it has already risen to the level of a Toyota car

Tesla's stock price ends 13-day rise, now equal to Toyota car

【PhoneAuto News】As of the close of the US stock market on Wednesday, June 14, Tesla’s stock price saw a slight drop of about 0.74%, which means that Tesla’s stock price has ended its continuous 13-day rise. However, during this round of increase, Tesla’s stock price has risen to surpass that of Toyota.

Tesla’s electric car

Currently, although Tesla lags behind traditional car manufacturers such as Toyota and Volkswagen in terms of car sales, it is the highest-valued car company in the world in terms of stock price. Recently, boosted by the continuous rise in stock price, Tesla’s stock price has risen by more than 40%, with a market value of about $814 billion (approximately RMB 58,313 billion). This wave of rising prices has driven Tesla’s market value to increase by nearly $240 billion (approximately RMB 17,193 billion), surpassing the total market value of Toyota, the second highest-valued car manufacturer in the world.

Financial data provider Refinitiv’s data shows that Tesla’s stock price is still far above Wall Street’s expectations, 28% higher than the median target stock price of $200 given by Wall Street analysts. Wedbush Securities analysts wrote in a report: “In the past month, Wall Street’s perception has changed because Ford, General Motors, and Tesla have reached a super charging station partnership, and they have finally started to use a classification and summation valuation method for Tesla.”

It is worth mentioning that currently, both Ford and General Motors have stated that they will adopt Tesla’s charging technology. The three car manufacturers, Tesla, Ford, and General Motors, occupy the vast majority of the US electric vehicle market, and their joint efforts are bound to affect the development of the entire US electric vehicle market.

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