Tesla’s stock price has gone parabolic reaching a high of $940.13 with the same market cap as Bitcoin

Tesla’s stock price has surpassed a peak of $ 940.13 on Nasdaq, with the same market capitalization as Bitcoin. It seems that Tesla has achieved record growth in the past few months, eclipsing its all-time high price.

Tesla’s stock price is showing signs of being like Bitcoin in 2017: Sideways

The good news seems to come from Tesla’s new product, Cybertruck, which was recently announced. There are already 250,000 pre-orders. And according to Panasonic’s announcement, it is partnering with Tesla to produce batteries for Tesla cars, and Tesla’s Powerwall battery backup power system has finally turned a profit.

teslas-stock-price-has-gone-parabolic-reaching-a-high-of-940-13-with-the-same-market-cap-as-bitcoin

Source: Businessinsider

Tesla currently has a valuation of $ 165 billion, almost on par with Bitcoin’s market capitalization of $ 167.4 billion. This also makes Tesla the carmaker with the highest market capitalization. Tesla currently has a larger market capitalization than the McDonald Group, with prices of $ 162.8 billion and Nike, respectively, of $ 152.8 billion.

Tesla’s hefty price increase has surprised many people, and now it has become more significant than Netflix, the popular television service. Some have become discounted for Tesla, as it has such a remarkable price increase, in such a short period, even surpassing Bitcoin so far this year.

Cybertruck is the main factor causing Tesla’s stock price to rise

Tesla’s Cybertruck is a significant contributor to the spectacular price increase of Tesla stock. Cybertruck has caused a fever on social media due to its futuristic design and design, helping the company to sell more than a quarter-million products in advance.

The Cybertruck will sell for $ 40,000, so the pre-sale alone will bring in $ 10 billion, and if Tesla’s previous struggle to meet the demand for any indicator starts. Tesla’s other cars are also on the rise.

In January 2019, Tesla sold 8,000 vehicles per month, and by December, they increased sales to 32,000 cars per month. In total, Tesla sold 192,250 cars in 2019. This does not take into account their conversion into renewable energy, such as Powerwall batteries for family energy backup.

Elon Musk is undoubtedly a controversial figure, but it seems that Tesla has thrived under his leadership. It remains to be seen how much Tesla’s stock will rise before it retreats.

Cybertruck of Tesla

This is not a good thing for CEOs of Tesla and SpaceX

Elon Musk, the business tycoon and CEO of Tesla and SpaceX, has warned his 31 million followers that blog-based cryptocurrency fraud has reached a new level.

It seems that scams involving digital currencies are bothering Musk. Crypto scammers often hijack Twitter accounts with official verification seals and then change the usernames to match those of the high-profile in the tech world. This includes Musk and Vitalik Buterin, co-founders of Ethereum. The crooks then trick other Twitter users into sending Bitcoin to fake tech celebs and other bogus accounts.

Most cryptocurrency scams follow the same strategy. They impersonate a wealthy personality like Musk and intend to give away Bitcoin for free. To participate in the free online game, users must first deposit a small amount of cryptocurrency to verify their wallet address. Fraudsters promise participants that they will receive a large sum of money from Bitcoin.

To combat the growing problem, Musk encouraged his followers to report the scammers immediately.

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