Business
Tesla value surpasses consumer giant P&G, next stop Walmart – The Australian Financial Review
The stock closed up 11 per cent at a record $US1835.64 in New York on Monday, despite reports of a drop in the registrations of its Chinese-made cars in July.
The relentless rally in Tesla shares has driven its valuation beyond consumer product behemoth Procter & Gamble, as investors bet on the electric vehicle maker’s ability to dominate the automotive market of the future.
The stock closed up 11 per cent at a record $US1835.64 in New York on Monday, despite reports of a drop in the registrations of Chinese-made Tesla cars in July. China is a key market for Tesla, and Elon Musk’s company is ramping up production there after starting deliveries f…
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