On June 10, Tesla’s closing price in the New York Stock Exchange hit over $1,000 for the first time since the company went public. It was just around two months ago that prices per share had plummeted from the $900’s down to the $300’s. This is, in part, because the stock market is volatile in nature. There are such an array of circumstances that can create a rise or decline in the price of a stock that it’s nearly impossible to gauge which direction the market is going. Many might try, but most will fail.
What went on last week?
What caused Tesla stock prices to surge to such incredible heights? Well, many are attributing it to the SpaceX launch. If you didn’t know, Elon Musk, the CEO of Tesla Motors (NOT the founder, FYI), is the founder of an American aerospace manufacturing corporation named “SpaceX” (short for Space Exploration Technologies Corporation). Musk originally created the company with his own personal goals in mind: to bring humans to Mars so that we might colonize it. Crazy, right? But pretty cool, right? Yeah, we think so too.
On May 30, SpaceX teamed up with NASA to launch two American astronauts into space from American soil for the first time in nearly a decade. There were two American astronauts aboard the SpaceX Dragon Capsule; Robert Behnken, 49, and Douglas Hurley, 53, made it safely into space that afternoon, ultimately docking at the International Space Station the next day.
Americans love the idea of space travel. Actually, we’re pretty sure everyone on earth loves the idea of space travel. So when a genius like Elon Musk is able to help out none other than NASA to safely launch American citizens into space, there’s no doubt that the masses are going to want a piece of Elon’s mind. And, aside from SpaceX, Elon’s mind is constantly evolving the automotive industry by way of Tesla Motors.
The Tesla touch
When the Tesla stock price per share surged past the $1,000 mark last week, it officially became the most profitable auto-maker in the world. Yes, that means Tesla surpassed Toyota at that price per share valuation. However, since Tesla is now down around 9% since it rocketed past Toyota, it now sits just behind Toyota, waiting to take over again.
Just look at the numbers. It’s incredible that Tesla was able to get into the top two in the first place. For comparison, Tesla sold 368,000 vehicles last fiscal year. Toyota sold almost 9 million vehicles last fiscal year. Tesla’s profitability margins are astounding, especially at the rate in which the company’s value continues to increase. Toyota better start making electric-powered vehicles if it wants to stay in its first place position, but we have a feeling it won’t last much longer.
Tesla stock prices aside, what else is going on in Elon’s world?
The hype for the first Tesla “Cybertruck” continues to grow. Earlier this year, Tesla, equipped with lasers and confetti, revealed the look for the first entirely-electric pickup truck. The crowd went wild, and they still are. From the super rich to the super fans, everyone wants a piece of that all-electric beauty. The Cybertruck is said to have 7,500 pounds of towing capability, an EPA-estimated 250 miles per charge, and shoots from 0-60 in 6.5 seconds. Fossil fuel doesn’t power this truck, so that’s epic if you ask me. And, just like all the other Tesla vehicles, it takes about 5 minutes to order online. However, because the Cybertruck won’t release until 2021, you can pre-order one with nothing but a $100 refundable deposit.
The point is: there’s a lot to look forward to for Tesla. Elon was able to build a company that mainstreamed the first all-electric vehicles. Tesla is recreating the way we see transportation. They’re giving future generations a better chance at fighting for climate change and an exorbitantly decreasing amount of raw oil. Clean energy is the future, and Tesla seems to be a pioneer of it. Take a look at the latest space exploration along with the first fleet of electric vehicles. Tesla continues to make waves, ultimately catapulting itself as a profitable, worthy opponent to untouched brands like Toyota.
It looks like the future is now. We love that, and we love the idea of saving the world one electric vehicle at a time.