Tesla’s valuation is now within 5% of Toyota Motors, the gargantuan player in the space. The electric-car company will likely de-throne Toyota soon. However, one indicator suggests Tesla may take a breather first.
Markets have a love-hate relationship with Tesla Motors (NASDAQ:TSLA). The electric car maker is either a market darling or out of favor.
In the past 12 months, it’s mostly been beloved by the market, with shares up over 380%.
Year-to-date, Tesla shares have beaten the pants off of the diversified S&P 500 Index, putting its market cap closer to industry leader Toyota. | Source: Yahoo Finance
Year-to-date, shares are still up an impressive 158%, and the S&P is down over 5%. If only Tesla had been added to the Dow or S&P 500 Index!
Now, the company’s share price is marking another milestone. The company’s total market cap is now closing in on that of automaking giant Toyota (NYSE:TM).
Another 5% rally in Tesla