Oct 24, 2024 09:46 PM IST
This was Tesla’s best day on the stock market since March 2021.
Elon Musk, the world’s richest person, on Thursday, added $21 billion to his net worth as Tesla’s stock witnessed a spike of 19 per cent on Wall Street. The electric vehicle company’s latest earnings report sparked a major rally.
Tesla’s share price spiked more than 19% by 11:30 a.m. EDT, reported Forbes.
Investors in the American market reacted positively to the company’s third-quarter profit, which was the most in the previous eight quarters.
Morgan Stanley analyst Adam Jonas told the magazine that the earnings report “reminds us that growing the auto business profitably remains a high priority for Tesla.”
Elon Musk, who is the largest shareholder of Tesla, added a whopping 21 billion dollars to his already massive net worth. Now he leads the second richest person in the world by a massive $50 billion, the magazine reported.
This was Tesla’s best day on the stock market since March 2021.
On Thursday, Tesla added a market capitalization of $117 billion.
