Tesla’s shares hit a record high of $1,120 on Wednesday, causing Elon Musk’s company to beat the market price of big companies like Coca-Cola or Disney.
Tesla’s market price now stands at 210 billion euros (236,14 billion dollars), making it the most valuable car company in the world, surpassing Toyota and Ford. Tesla has also surpassed Cisco and Exxon Mobil.
Due to the value that the shares reached, there are now only 19 companies that worth more than Tesla on the S&P 500, a list that brings together the 500 most powerful companies listed on the New York Stock Exchange in the United States.
Nikola, Tesla’s direct competitor in the electric car sector, has also seen its shares increase significantly since it went public in early June. It is now worth $25 billion more than Toyota.
In the coming days, the company is expected to release its second-quarter results and car sales data. In the first quarter of this year, Tesla made profits of $16 million. The company currently manufactures half a million vehicles a year, while Toyota manufactures more than 10 million.