Tesla Shares Surge 22% Since 2011, Adding $150 Billion in Market Cap

Oct 24, 2024, 08:04 PM

Tesla shares surged by 22% on Thursday, marking their best day in over a decade. The stock's rise added approximately $150 billion to Tesla's market capitalization, the largest single-day increase in the company's history. This surge was driven by a strong earnings report and a forecast of 20-30% vehicle sales growth for 2025, surpassing analysts' expectations of 15%. As a result, Elon Musk's net worth increased by $26 billion, making him the world's richest person with a net worth of $270 billion. Tesla's stock closed up 21.92%, its biggest gain since 2011.