Transcript for By the Numbers: Tesla stock’s rapid rise
Despite the economic fallout from the pandemic the stock market has been on a rocket ride this year after recovering from lows in the spring and few companies have seen a greater rise than electric carmaker Tesla. Let's take a look by the numbers. Today Tesla officially became part of the S&P 500 stock index which tracks the fortunes of 500 large companies here in the US. Tassel was added to the S&P after reporting five straight quarters of profits going back to last year. Tesla has seen its stock soar from the equivalent at 86 dollars a share in the first week of January. To close just under 650. Dollars a share today at the electric car maker became a favorite of Wall Street investors. As well as those devoted fans. And that's me Elon Musk Tesla is polarizing founder who owns 21% of the company's shares of very wealthy man. As of Friday Forbes pegged his net worth at around 145. Billion dollars making him the third richest person in the world but some analysts are still skeptical about whether the company and its stock price can live up to the high. It's currently worth about seven times the combined value of Ford. And GM despite tests like expecting to sell around 500000 electric cars this year worldwide for less than 1% of total global car sales but the company supporters are betting on the future of electric people gaining popularity. Especially if the new Biden administration supports the industry and a growing concerns about climate change. As well as a boost from a surge in electric car sales. In countries like China.
This transcript has been automatically generated and may not be 100% accurate.