Tesla proved that a year of a pandemic can transform into profit if you keep working hard on your ideas. According to analysts, the first quarter of 2021 reported more new vehicle deliveries than predicted. With 184,000 electric cars - Tesla Model 3 and Model Y out of the production line, the amount already surpassed the 178,000-units planned in the first three months of the year.
Tesla built 180,338 vehicles in 90 days. After becoming and holding the title and status as the world's most valuable automaker, the company has increased its market that value by $50 billion, and its stock jumped almost 8 percent in pre-market trading on April 5. The trademarked shows that it's about to hit its highest price in over a month. A couple of brokerage firms raised their Tesla stock prices from $50 to $1,000.
There would be word that Tesla's $700 stock price is overvalued, but with the automaker's constant forward development in the last 12 months compared to other automakers that are still suffering through a semiconductor chip shortage, halted production in several factories across the country, and overseas. Tesla is thriving during these harsh times just fine.
The market value is a fair sum of both US and European automotive markets. The EV carmakers aren't always thriving, most of them are actually near a financial collapse. Just for a raw comparison, both Nio and Xpeng Chinese-owned brands, publicly traded in the US by around 3 percent. And with no support from Wall Street's pessimism towards the electric vehicles.
Seems like Tesl has her rivals' eyes on her stock history and believe it or not is due to their intention to invest in the Canadian Company. The brands also have EV future plans and they vulture around the possibility of getting a glimpse at their own company's future. The GM's intention of switching towards battery-electric-only by 2035 was a big "welcome to the market". Time will show if Tesla will hold the EV market leader for the time being, but there are those who aim to topple that status.