Tesla shares are close to $1000, capitalization – to $1 trillion

Despite the recent stock market correction, Tesla shares are on the rise again. The company has been showing robust earnings reports recently while delivering strong growth in US, Europe and China shipments.

The current value of the securities is $962.64. The stock is up 17% from September lows and nearly 12% from September 2 highs. The company's capitalization today is about $825 billion – more than the seven largest automakers combined.

Analysts expect Tesla's annual sales to hit just over $50 billion, up 60% from last year. According to forecasts, in 2022, revenue will be approximately $70 billion, and in 2023 – $82.7 billion.

Experts note that the company's profit is growing at an impressive pace: this year it is expected to grow by 144%, and next year – by 35%. Tesla's popularity stems from the fact that it is still a cult brand that attracts many investors and traders. Moreover, the CEO of the company Elon Musk owns more than 227 million shares. And this is about twice as much as the 10 largest mutual funds combined.

It's also worth noting that Tesla isn't all about electric vehicles. The company also has an energy division, which is currently actively developing.