Massive rise: A Tesla showroom and service centre in Amsterdam. Tesla shares surged this week, briefly lifting the electric car company’s market value above US$1 trillion (RM4.15 trillion). — AFP
CALL me sentimental, but while everyone was lauding Tesla Inc’s astonishing rise to a more than US$1 trillion (RM4.15 trillion) market value on Monday, all I could think about was how wretched the rest of the auto industry must feel, and how they might respond.
In just one frenetic trading session, Tesla added US$118bil (RM489bil) to its worth, or almost double that of Ford Motor Co’s entire market capitalisation.
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