Tesla Joins $1 Trillion Market Cap League amid Price Surge on Deal with Hertz
Tesla's price reached record high since IPO on securing its biggest order with Hertz
Tesla's price reached record high since IPO on securing its biggest order with Hertz
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Tesla Inc. (Tesla) surpassed $1 trillion in market capitalization on Monday after the company secured its biggest ever order of 100,000 units from rental car company Hertz.
The company surged as much as 14.90% reaching to record high of $1,024.86, surpassing market capitalization of $1 trillion. This marks Tesla’s position in the trillion-dollar market capitalization league.

Elon Musk even expressed his surprise to the surge in price, commenting “strange that moved valuation, as Tesla is very much a production ramp problem, not a demand problem,” on the tweet of Ross Gerber Kawasaki, co-founder of the investment fund Gerber Kawasaki and Tesla shareholder.
Musk later separately tweeted “Wild $T1mes!”.
Tesla is expected to deliver the order to Hertz by the end of 2022 and this further solidifies the Tesla’s stance in dominating the automotive industry in the near future.