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Tesla Stock Has Hit $420 In Record Move

One of the most controversial tweets from Elon Musk was regarding his decision to take Tesla private, with a per-share cost of $450. Although this never happened actually, something mentioned in the list took place last day, as Tesla stocks hit a record of $420. It should be noted that the price of Tesla stocks weren’t as high as $420 when Elon Musk had talked about his taking-private plan. At that time, however, Musk had said that there is a buyer willing to make the funding and that everything was secured. Later, the whole deal had to get bailed.

It is on Monday that this happened, and especially when not many were expecting the same. However, there is no surprise in the growth the company has managed to acquire in 2019 alone. It should be noted that the stocks of Tesla had seen a rise of 29% in this year alone. The company would have to thank many things for this, including the Tesla Cybertruck that was recently announced, the all-electric ATV and of course a better figure on how the Model Y production is moving forward. The opening of the new factory in Gigafactory had also played an important role.

The story of Tesla as such has been great in general, when considering that the company was at a noticeable loss when the year started. By the time the company reached the second and third quarter of 2019, it was able to regain profit, becoming stable in the long run. This happened even as the electric vehicle market was becoming more crowded, with more and more companies launching and announcing their electric cars and trucks. Considering that Tesla was able to outplay most of these companies in the industry proves how clever the vision of Elon Musk has been so far.

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Bruce Townsend

I am a Ph.D. astrophysicist, Associate Editor, and science communicator, who professes physics and astronomy at various colleges. I’ve written, online, and in print, for Air & Space, Astronomy, Ars Technica, Discover, Drone360, Gizmodo, Popular Mechanics, and Washington.

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