Tesla's 5-Day Boost is equivalent to the Total of 3 Automobile Giants!

Tesla's 5-Day Boost is equivalent to the Total of 3 Automobile Giants!

The 5-day increase in the US electric car maker Tesla corresponds to the sum of the three major car manufacturers known as the Detroit Trio. The market value of Tesla Motors, founded by Elon Musk, even surpassed General Motors Co. in October. In 5 days until Monday, Tesla's market value exceeded total market value of GM, Ford Motor Co. and Fiat Chrysler, known as the Detroit Trio. Tesla, which started to recover after the coronavirus (Covid-19) pandemic, increased its market value by an average of $ 14 billion each day. Delivery figures in the second quarter of the year also affected this increase. In short, Tesla added a Fiat Chrysler to its market value every day last week. Although some argue that the company's rise to a strong story and move away from reality, its supporters are also to be underestimated. Wesbush Securities analyst Daniel Ives said in an interview, "There is definitely a retail part that carries the shares up'', referring to individual investors trading on platforms like Robinhood . Now, Ives says that most institutional investors want part of the Tesla and electric car market. In this context, Ives said: “In the pandemic and dark macro environment, the company revealed 90 thousand deliveries, especially when other manufacturers faced great challenges.”