Tesla surged past a US$500 billion market cap on Tuesday after markets opened and its stock price surpassed US$527.48 per share. Shares of Tesla were trading at US$540.40, up more than 3 percent, when markets opened. The company has been on a tear this year, with its stock price increasing more than fivefold. While the mark is largely symbolic, it underscores CEO Elon Musk’s push for growth. Tesla became the first US$100 billion publicly listed U.S. carmaker in January.

Source: The Standard November 24, 2020 15:45 UTC