On June 29, 2010, Tesla went public at the Nasdaq, pricing its shares at $17. Ten years later, the electric vehicle maker's stock is up more than 5,500%.
In October 2011, Tesla unveiled the Model S, followed by a huge announcement of its autopilot function in October 2014. The Model X was delivered in September 2015 and the Model 3 in July 2017.
Notably, in November 2019, Tesla had an embarrassing unveiling when it attempted to show off the Cybertruck's "unbreakable" glass. However, the glass shattered when a steel ball was thrown at it. Nonetheless, Tesla's stock continued to rise and in January 2020, the Model Y was delivered.
In a landmark moment, Tesla’s stock raced towards—and hit—the $1,000 mark on June 10, 2020. In January 2019, Tesla’s stock was just $212 a share, meaning it had a monumental increase of 371% in one year.
Tesla’s stock has been largely driven by investors' faith in the company’s dominant position in the electric vehicle industry.
"View Tesla in a way they viewed Apple 20 years ago: a company that thinks differently, that is incredibly innovative in a category that needs a spurt of innovation. That creates investor interest. If there’s a path to profitability and reason to believe scale will continue to increase, then tech investors tend to not care as much about valuation and/or are will to look multiple years into the future when scale and profitability will support current valuation," Huberty wrote in a note to clients.
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