Tesla Stock
When Tesla stock went public on the Nasdaq stock exchange around 13 years ago on June 29, 2010, its each share price was $17. Having a total of 13.3 million shares, its price has seen a 40.5% rise on that day with a closing price of $23.89.
After nearly a decade of losses, Tesla stock witnessed a considerable price surge in 2020 and reached an all-time high value of $409.97 on November 04, 2021. It has seen incredible growth and even crossed a $1 trillion market capitalization in 2021.
Since then, the stock price was on a downtrend and even went to as low as around $100 in Jan 2023. Recently, Tesla stock is increasing the hopes of its investors with a rising price trend from May 2023.
What is Tesla?
Being one of the largest companies in the United States, Tesla has turned into a popular electric vehicle manufacturer and clean energy company.
As one can notice, the company is named after the well-known Serbian-American inventor Nikola Tesla and was founded as Tesla Motors on July 1, 2003. Martin Eberhard and Marc Tarpenning founded the company with a vision to combine car manufacturing with technology. The core technologies of Tesla were the battery, the computer software, and the proprietary motor.
Elon Musk, a well-known individual, joined the company in January 2004 as a venture capitalist and contributed $6.5 million to its Series A funding. Later on, he actively participated in product design and development and also contributed to the car style and was not that involved in the business operations.
Tesla company has amassed millions of dollars in the subsequent years in different rounds of funding. The company entered the list of Top 100 Best Global Brands in 2016. But, it was behind the automaker brands like Toyota, Mercedes, and BMW in terms of its worth.
Later, the company went on to develop new models and became the most valuable automaker company to ever exist in the US with a market cap of $86 billion in 2020. After recording four subsequent profitable quarters from July 2019 to June 2020, it became eligible to be listed in S&P 500.
From producing around 1,600 Tesla Roadster vehicles in 2010, it delivered more than 1 million cars in different models – Model S, Model 3, Model X, and Model Y in 2022. What started as an ambitious experiment that is believed to fail, by Elon Musk himself during its IPO, has now diversified into multiple areas like insurance, charging infrastructure, and energy generation and storage.
Tesla Energy Operations in Brief
Elon Musk founded Tesla Energy Operations, the clean energy division of the parent Tesla company in April 2015. Tesla’s clean energy division manufactures, sells, and installs battery energy storage products and solar energy generation systems to a diverse customer base.
Initially, Musk’s vision was to apply the battery technology, that was developed for electric cars, to a home energy system called Powerwall. Later in November 2016, Tesla acquired SolarCity for $2.6 billion and added solar energy generation to the company.
Today, the company’s products are solar panels, the Tesla Solar Roof, and the Tesla Solar Inverter. Besides, the company develops software to support its energy products and it even manufactures large-scale energy storage systems called Powerpack and Megapack.
By developing 348 megawatts of solar energy and 6.54 gigawatt-hours of battery storage products, Tesla’s clean energy division accumulated $3.91 billion in revenue in 2022. This revenue has seen a 40% increase over 2021 and is 33 times more than the parent company’s revenue in 2010.
With its vision to produce luxurious battery-powered vehicles and clean energy generation systems, Tesla holds huge future growth potential. And, the share price of this popular battery-powered vehicle and clean energy company has recently started to rise. Do you think Tesla is far ahead of the rest of the world and if it is a good decision to invest in Tesla stock in 2023?
What will Tesla stock be worth in 10 years?
Tesla’s stock price reached an all-time high value of $409.97 in November 2021. This is a thousand-fold increase since its IPO value of $17. Though we cannot accurately say its future price prediction, Tesla stock has the potential to see a significant rise in the coming years.
