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Tesla, an American electric car manufacturer, hit record highs. According to Tesla, Inc. (TSLA) (2021), in 2020, the value of Tesla shares has grown almost tenfold from $ 88.6 in early 2020 to $ 864.2 on January 27, 2021. Shead (2021) notes that much of this growth was driven by expectations that the electric car producer would be included in the S&P 500. However, according to Tesla, Inc. (TSLA) (2021), peaking at $ 900.13 on February 25, 2021, the companys quotes fell 24.5%, closing trading on July 2 at $ 678.9 per share. Although today there is a decrease in the companys quotes, there is room for growth because the company showed impressive results against the background of insufficient production capacity.
The success of Tesla shares is primarily due to the record number of sales. Shead (2021) claims that by the end of 2020, the companys sales amounted to about 500 thousand vehicles. Moreover, the current trend underscores growing investor confidence in the future of electric cars and Teslas transformation from a niche automaker to a global leader in green vehicles. The increase in the value of Tesla shares is associated with significant subsidies from the states. In many countries, including the USA, China, and Saudi Arabia, the companys cars can be bought with a tax deduction. It helps to enhance the companys sales, which significantly increases the value of the stock. Therefore, the success of Tesla shares is due to the increase in sales, the rise in popularity of electric vehicles, and subsidies from state governments.
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