Tesla became the fifth company in U.S. history to have a market value of $ 1 trillion on Monday.
Tesla shares have risen 12.6% after Hertz, a car rental company revealed orders for 100,000 vehicles which is also the largest order in the carmaker’s history.
Previously only Apple, Microsoft, Amazon and Alphabet had reached a market value of $ 1 trillion. Facebook previously joined the ‘trillion dollar group’, but dropped out after its market value declined again.
Hertz will pay $ 4.2 billion for 100,000 Model 3s over the next 14 months, and it will also build a network of charging stations.
News of the deal has brought Tesla shares to $ 1,045 a unit, a daily trading record high before closing around $ 1,024 at the end of the New York session.
Earlier, strong sales in the European Union (EU) and the actions of Adam Jonas of Morgan Stanley raising its price target for Tesla to $ 1,200 a unit from $ 900 have also helped further boost the company’s stock.
With the current performance achieved, it is not surprising if Morgan Stanley’s previous expectations come true. Tesla founder Elon Musk is expected to be the first ‘trillionaire’ in the world to be supported by his SpaceX project.
