When will Tesla stock market fall to $500 billion?
Tesla shares rose by nearly 6% on Wednesday, after the company’s stock plunged by nearly 2% early in the day.
The stock has lost nearly 5% of its value since early September, when it gained more than 9% after the unveiling of its Model 3 electric sedan.
But the company is still well ahead of the $500-billion mark for its valuation.
The Tesla stock has gained nearly 3,000 points this year.
The company has also been trading at a record high this year, trading at more than $3,000 per share at the close on Wednesday.
The Dow Jones Industrial Average is up more than 1,300 points.
Tesla is also the biggest tech company in the United States, and the company has invested heavily in research and development.
Tesla also owns a vast number of electric vehicles and is one of the world’s largest makers of battery packs.
The news comes as the U.S. stock market is on a tear, with prices climbing as high as $9,000 on Tuesday, the highest since July 2013.
The market is now trading at near record highs for the first time in more than two years.
Tesla stock was up nearly 2.5% on Thursday.
But analysts say the company will need to make substantial headway in the next few months if it wants to get back on track.
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