Today's Stock Pick - Tesla, Inc
History
Tesla Motors was started by a group of Silicon Valley entrepreneurs and strives to create a revolution and accelerate the world’s transition to electric mobility with a full range of increasingly affordable electric cars. Tesla vehicles are EVs (electric vehicles), which are transforming the way people drive and move. Tesla has gone public as of June 29, 2010 and has a market cap of $34.32 billion. Tesla Motors’ goal is to increase the number and variety of EVs through three strategies. The first is to sell its own branded vehicle through its showrooms. Second is to sell premium, high-quality, patented electric components to other automakers. Lastly, it serves as a “catalyst and positive example to other automakers.” There has already been a movement in the EV market with the push of the GM Volt, rumored to have been inspired by the Tesla Roadster.
About the Stock
Tesla has been one of the talking point in recent times with Elon Musk being very active on social media and the way the electric vehicles and its innovations are driving the market.
During one of the worst pandemic this stock gave the stake holders one of the biggest profit in spite of global wide lock down. This is one of the stock which has recently entered the S&P 100 with its net worth increasing almost 100 times from 79 billion (in march 2020) to 752 billion (in 30 January).
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