Wednesday, October 27, 2021

While we were out...

The Tesla thread has been heating up a bit.

Tesla, a company that makes electric cars but not an electric truck or electric semi, hit a market capitalization of over $1 trillion earlier today as its stock soared on a spate of good and bad news for the company. One trillion dollars! That is almost in the same league as some other companies you may have heard of, like Google.

Well, not quite yet, as, as of this writing, Alphabet, Google’s parent company, has a market cap of a little over $1.8 trillion, while Tesla’s is just over $1 trillion. Tesla, in any case, is in the trillionaire’s club.

Making Musk the world's first quarter-trillionaire.

Elon Musk may soon become the first person with a net worth of $300 billion.

The Tesla CEO and world’s richest man added more than $36 billion to his fortune on Monday after the automaker’s shares spiked 12.7% following the announcement that Hertz is ordering 100,000 vehicles to build out its electric vehicle rental fleet by the end of 2022.

About that deal...

Thank goodness that the sober, critical journalists at the NYT aren't getting swept up in the hype.
[note: LAT > NYT}

For final thoughts, check out this thread. It's short but the points in makes are absolutely essential. 

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