The Tesla Motors success story keeps getting better – this week shares of the electric car maker reached an all-time high after it was revealed that Tesla will soon be added to the Nasdaq 100 index. Tesla’s shares have risen since news broke that it recorded a $11.2 million first quarter profit earlier this year.
On Tuesday Tesla’s shares were up 2.6 percent from the prior day at $124.76. Even better, Tesla’s shares have more than doubled in the last two months, and according to Barron’s they are up a whopping 265% this year. Tesla’s current market value is set at $14.2 billion, and the company is set to replace Oracle in the Nasdaq 100, which is an index of the 100 biggest nonfinancial stocks.
Tesla is continuing to ramp up production of its Model S sedan, and CEO Elon Musk recently revealed that the company is currently beating its production goals with over 400 units produced per week. By the end of next year Tesla hopes to double that number to around 800 units a week.
Via Fox Business