<![CDATA[Tesla’s stock edges past $2,000 mark]]> https://usagag.com/2020/08/20/teslas-stock-edges-past-2000-mark/ Thu, 20 Aug 2020 17:42:31 +0000 hourly 1 https://usagag.com Tesla’s stock edges past $2,000 mark Tesla shares briefly topped $2,000 on Thursday, capping a remarkable run that has seen them skyrocket more than 360 percent this year.

The electric automaker’s stock rallied more than 6 percent in intraday trading, bringing the company’s gains to just under 19 percent for the week.

Tesla’s market cap now sits at $372 billion, making it the most valuable carmaker in the world by far. The rally added an additional $4.2 billion to the net worth of CEO Elon Musk and brings his fortune to $89.5 billion, according to Forbes.

Musk has added $62.4 billion to his net worth since the beginning of the year thanks to Tesla’s supercharged stock performance.

Tesla earlier this month announced a 5-for-1 stock split, which will go into effect on Aug. 28 in an effort “to make stock ownership more accessible to employees and investors.”

At $2,000 per share, the stock split would make each new share of Tesla worth $400. Shares were worth $430 to start the year.

Tesla’s rally settled a bit after hitting $2,000, and the stock was trading up 6.2 percent at $1,995.94 Thursday afternoon.

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