NEW YORK – Tesla’s market value soared to more than $500 billion Tuesday ahead of its listing on the S&P 500, with its stock finishing up 6.4 percent or by nearly $32 billion in 24 hours.
That gave it a valuation of $526 billion, a rise of more than 560 percent since the start of the year; and means founder Elon Musk, who owns 18 percent of the company, earned $100 billion in the same period.
Tesla is riding a wave of enthusiasm from investors who see the electric car maker’s future as bright.
Its share price has also been boosted in recent weeks by Joe Biden’s victory in the US presidential election. The Democrat has promised to promote the development of electric vehicles in the…
