11/24/2020, 3:43 PM (Source: TeleTrader)
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Tesla reaches $500 billion market cap

Tesla Inc. surpassed a $500 billion market cap on Tuesday as its shares continued to push new highs. The company's stock crossed the $500 level last week to reach a new record high after the news that the carmaker is set to join trading on the S&P 500 in December.

In the third-quarter report, Tesla revealed that its earnings per share annually jumped 69%, while net income skyrocketed 131%. The e-car maker's shares gained 1.15% to sell for 527.59 at 9:47 am ET, and have increased more than five times since the start of the year.

Breaking the News / ND