Tesla Stock Price Hits $1,000

Tesla Stock Price Hits $1,000

Tesla’s stock price reaches $1,000 for the first time in the company’s history

It’s official: Tesla just keeps breaking record after record!

After becoming the most valuable car company in the United States in January, Tesla’s stock price crossed the $1,000 threshold for the first time in the company’s history, on Wednesday June 10. The company’s stock reached a record $1022.99 dollars 15 minutes prior to market close.

Increase in Demand for Model 3

According to Wedbush Analyst and Bloomberg columnist Daniel Ives, this new milestone can be attributed to two key reasons. First, the increasing demand for the Model 3 in China, with Tesla on track to reach 100,000 deliveries locally.

Tesla’s Battery Event

The second reason is due to Tesla’s “Battery Day” event,  which is scheduled to take place soon. It is rumored that   battery cells will be unveiled, and are expected to bring the cost of electric vehicles on par with gasoline cars.

Furthermore, Motley Fool Senior Writer Daniel Sparks has argued that there’s also a third reason. In a leaked email, Elon Musk directed Tesla staff to bring the Tesla Semi to “volume production”.

Tesla Semi is an all-electric battery-powered semi-truck. It is expected to go into production soon and the company expects the first Semi to be delivered by 2021.

In terms of car manufacturing, 2020 will most likely be remembered as Tesla’s year, and the best is yet to come!