Wednesday, July 22, 2020

Tesla market value surges past U.S., European auto indexes

Tesla Inc. is more valuable than not only every other automaker, but also entire segments of its industry. The electric-car maker surpassed the market value of the S&P 500 Automobiles and Components Index and the Stoxx Europe 600 Automobiles and Parts Index this year, according to data compiled by Bloomberg. Tesla’s value as of Tuesday was $304.8 billion, more than triple the total for the S&P 500 industry group and 17% higher than the Stoxx group in dollar terms. While Tesla trails the Topix-17 Automobiles and Transportation Equipment Index, the dollar gap narrowed 65% for the year through Tuesday.

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