American car manufacturer Tesla became the first American brand with a market capitalization of over $ 100 billion, breaking the mark at auction after the official session Tuesday in a sign of confidence on wall street in the future of electric vehicles.
Tesla's Shares gained 1.4% to 555 USD per piece at auction after the close of the session, gaining 7.2 percent during trading after the brokerage company New Street Research upped their price target to $ 800 per share.
Tesla's Market value also approximates its main owner Elon musk to receive the first tranche of options to 346 million dollars in record royalties.
the Capitalization of Tesla has previously exceeded the aggregate value of Ford Motor and General Motors. Over the past three months, shares of the electric car manufacturer rose by more than double, helped by an unexpected quarterly earnings report in October, the news of increased production in the Chinese factory and higher-than-expected annual deliveries of cars.
