Record deliveries could boost Tesla market value by $50bn

Latest News

Record deliveries could boost Tesla market value by $50bn

By Alexandra Leonards

6/4/2021

Tesla stocks surged by almost 8 per cent on Monday, which could see its market value increase by $50 billion, after the electric vehicle company published its quarter one sales.

Tesla said that it produced more than 180,000 vehicles and delivered nearly 185,000 vehicles in the time period.

A number of brokerages increased their price targets on Tesla’s stock, according to a report by Reuters.

The news agency said that Brokerage Wedbush saw the highest rise, increasing targets from $50 to $1,000. This is a lot higher than the median price target of $712.50, according to Refinitiv data.

“Tesla is executing impeccably. I am not surprised by the strong deliveries,” Roth Capital Partners analyst Craig Irwin told Reuters, but said that the stock is “egregiously overvalued.”
He added: “EVs are an exciting place to be, and Tesla is the leader.”

The future-ready CFO: Driving strategic growth and innovation

This National Technology News webinar sponsored by Sage will explore how CFOs can leverage their unique blend of financial acumen, technological savvy, and strategic mindset to foster cross-functional collaboration and shape overall company direction. Attendees will gain insights into breaking down operational silos, aligning goals across departments like IT, operations, HR, and marketing, and utilising technology to enable real-time data sharing and visibility.

The corporate roadmap to payment excellence: Keeping pace with emerging trends to maximise growth opportunities

In today's rapidly evolving finance and accounting landscape, one of the biggest challenges organisations face is attracting and retaining top talent. As automation and AI revolutionise the profession, finance teams require new skillsets centred on analysis, collaboration, and strategic thinking to drive sustainable competitive advantage.