Elon Musk’s decision to throw his weight behind Republican candidate Donald Trump for his bid for re-election as the US president has paid off handsomely for his company Tesla, with its stock prices hitting 321.22 on November 8, 2024, that marked a Bob Beamon-style leap of 17.43% over the pre-election 52-week high of $273.54 achieved on October 27. But perhaps more remarkable is the fact that the gravity-defying rise in Tesla stock price has taken its market cap past the $1 trillion mark, for the first time in two and a half years.
Incidentally, the market cap of Tesla had surged past this magical level for the first time in October 2021 but then dropped. Reports said the stock of the world’s most famous EV maker progressed 29% this week, thereby pushing ahead it market cap by over $230 billion.
How to invest in Tesla from India
Investing in Elon Musk’s Tesla is easy from India. An indirect way is to invest in mutual funds from Indian AMCs that have invested in Tesla stocks. Some of these funds are HDFC US Equity Fund, Motilal Oswal Nasdaq 100 ETF, Birla Sun Life US Equity Fund and Franklin India Prima Fund.
There is also a direct way of investing in Tesla shares from India. You can open an international trading account with certain apps – these can be with Indian brokerages or international brokerages working in India. Standard KYC documents such as Aadhaar and PAN cards can help. RBI rules allow one to invest as much as $2.5 lakh in one financial year.
Which companies have $1 trillion+ market cap
Tesla has joined an exclusive club of companies that can boast of market cap more than $1 trillion. These companies are all US companies and all are significantly tech firms – Apple, Nvidia, Microsoft, Meta, Alphabet and Amazon. Meta is the only company to have a market cap in excess of $2 trillion.
Tesla market cap compared to top GDPs
Tesla market cap compared to the GDP of the 5 largest economies of the world stands thus – 25.31% of India’s GDP (of 2024), 24.39% of that of Japan, 21.23% of that of Germany, 5.47% of that of China and 3.44% of the GDP of the US, the largest economy of the world. Incidentally, Tesla has worn the crown for being the world’s most valuable auto company leaving Japanese giant Toyota and Tesla’s direct electric vehicle competitor China’s BYD far behind.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling sharesor subscriptions of any IPO or Mutual Fund.)
Tesla shares have been defying gravity since November 6, when Republican candidate Donald Trump emerged victorious, with the stock price rising 17.43% from the pre-election 52-week high. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
