Tesla Overtakes Toyota and Becomes World's Most Valuable Automaker
AP Photo/Paul Sakuma
Main page News, US Market, Tesla

Tesla's market cap has exceeded $207B, overtaking Toyota (with $202.7B on the New York Stock Exchange) and becoming the world's most valuable automaker, the Financial Times has reported.

Tesla's share price has increased fivefold on the NASDAQ, from $230 to $1,128 each. During yesterday's trading session, its value reached an all-time high of $1,135, causing the company's market cap to jump to $207.55B.

While Toyota's shares are trading at a multiple of 16 times its earnings, Tesla's shares are trading at a multiple of almost 220 times, a lot higher than any other automaker and almost double that of tech giants such as Amazon.

Even though Tesla CEO Elon Musk said in May through his official Twitter account the company's share price, $755 at the time, was "too high," its value has grown even more.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error