Tesla is Now the World’s Most Valuable Automaker
Elon Musk proves the saying "If you don't promote yourself, nobody else will." Tesla is marketed almost exclusively though his the Musk Twitter feed. Even in the midst of a pandemic, Tesla continues to reach new heights.
The company, which began as a problem-plagued upstart a little over 15 years ago, has now become the world’s most valuable automaker – surpassing industry giants such as Toyota and Volkswagen.
This milestone comes after a year of steady growth, which only hit a speed bump earlier this year due to COVID-19’s negative impact on new car sales. Despite these headwinds, Tesla’s valuation has jumped by an impressive 375% since this time last year.
How does Tesla’s value continue to balloon, despite repeated cries that the company is overvalued? Will short sellers declare a long-awaited victory, or is there still open road ahead?