If You Invested $1000 In Tesla Stock When Shanghai Gigafactory Went Online, Here's How Much You'd Have Now
Portfolio Pulse from Shanthi Rexaline
Tesla's Giga Shanghai factory has produced its two millionth electric vehicle. The factory, which is Tesla's largest worldwide, achieved this milestone in a significantly shorter time than it took to produce its first million vehicles. The Giga Shanghai factory is a crucial part of Tesla's operations, producing both Model 3 and Model Y vehicles, and serving as an export hub. In Q2, sales from made-in-China cars accounted for 53% of Tesla's total sales. A hypothetical $1,000 investment in Tesla when the factory started production in Oct. 2019 would now be worth $14,836.3, a 1,384% return in four years.
September 07, 2023 | 11:00 am
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The Giga Shanghai factory's production milestone and its significant role in Tesla's operations could positively impact Tesla's stock. However, Tesla's stock fell 1.50% in premarket trading.
The Giga Shanghai factory's production milestone and its significant role in Tesla's operations could positively impact investor sentiment towards Tesla, potentially driving up its stock price. However, the recent fall in Tesla's stock price in premarket trading suggests that other factors may also be influencing its stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100