Hyperdrive
Tesla Adds $144 Billion to Market Value After Record Deliveries
- Monday’s 14% gain is stock’s best performance to start a year
- Company delivered 308,600 vehicles worldwide in fourth quarter
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Tesla Inc. is off to a strong start to the new year after the electric-car maker smashed its quarterly record for deliveries in what one analyst called a “trophy-case” performance.
The company’s shares jumped 14% in New York, their biggest gain since March and best start to a year since Tesla went public more than a decade ago. The $144 billion in market value that Tesla added on Monday is the equivalent of an entire Honeywell International Inc. or Starbucks Corp. It’s also more than the value of almost 90% of the companies in the S&P 500 Index.