FX.co ★ Tesla stock rallying to new highs

Not so long ago, some critics said that Tesla Inc. was on the brink of failure due to low demand and high competition. However, recently, Tesla’s value on the stock market has climbed above $100 billion for the first time. Despite some skeptical forecasts, Elon Musk’s company stayed afloat and even managed to extend its gains. The electric-car maker’s shares have soared over the past few months and are still holding steadily high. In terms of market capitalization, Tesla has already outrun such giants as General Motors and Ford altogether. Right before the beginning of 2020, Elon Musk announced that he expected the shares to reach $450. Surprisingly, the company’s stocks exceeded the target having climbed to $555.1 per share. It is worth noting that Elon Musk’s income directly depends on Tesla’s success. The CEO currently does not receive any salary or cash bonuses, instead, his profit arises from stock options which depend on the volume of market capitalization. If the company’s market value stays above the threshold of $100 billion for several months, this will bring Elon Musk a $346 pay award which is the first tranche out of the $2.6 billion compensation package. Once again, the outstanding genius of our time made a breakthrough and was able to turn Tesla from a niche electric car manufacturer into the world’s leading producer of electric vehicles with factories in the US and China.