Tesla market value crosses $800 billion for the first time

tesla

(Reuters) – Shares of Tesla Inc jumped 4.9% on Friday, taking the electric-car maker’s market capitalization to more than $800 billion for the first time ever.

In the previous session, its market value crossed $774 billion, making Tesla Wall Street’s fifth most valuable company, just behind Google-parent Alphabet Inc and ahead of social media giant Facebook Inc.

Its shares, which surged more than eight times last year, had closed up nearly 8% on Thursday.

Reporting by Akanksha Rana in Bengaluru; Editing by Arun Koyyur

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