- Tesla on Thursday became the ninth-highest-valued US-listed company after its share price exceeded $2,000, according to data from YCharts.com.
- The electric-vehicle manufacturer has seen its stock rocket more than 45% since it announced a 5-for-1 stock split on August 11.
- Tesla is now more valuable than Walmart, and its market cap is less than $20 billion away from overtaking Johnson & Johnson.
- Here are the eight remaining S&P 500 companies worth more than Tesla.
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At its intraday peak of $2,021.99 on Thursday, Tesla sported a valuation of more than $378 billion, above Walmart’s market capitalization of $368 billion, according to data from YCharts.com.
The electric-vehicle manufacturer has surged more than 45% since it announced on August 11 that it would implement a 5-for-1 stock split later in the month.
Year-to-date, Tesla has surged 378%. Investors continued to bid up the company after it recorded its fourth straight quarter of profitability last month and became eligible to be included in the S&P 500 index.
The relative valuation of Tesla to Walmart is astounding when considering the financial profiles of both companies. In its latest fiscal year, Walmart recorded $500 billion more in revenue than Tesla.
But in a world of near-zero interest rates, growth is scarce, and investors are willing to pay up for it. Case in point: Tesla featured a price-earnings multiple of 1030x as of Thursday.
Here are the eight remaining S&P 500 companies worth more than Tesla after it surpassed Walmart:
Market cap: $398 billion
Market cap: $432 billion
Market cap: $492 billion
Market cap: $762 billion
Market cap: $1.07 trillion
Market cap: $1.61 trillion
Market cap: $1.65 trillion
Market cap: $2.03 trillion