Summary

• Tesla’s share price experienced an 11% rebound on Wednesday after a 21% fall on Tuesday, between a wider bounce back in the technology sector, reflected through Nasdaq Composite index ending the trading session, with a rise of 2.71% from its last close, as on 9 September.
• In the last few months, Tesla shares witnessed a rally, which could be attributed to the hopes pinned on Tesla to be included in the S&P500 index. The non- addition of the Company disheartened the investors and led towards the sell-off.
• In the future, the Company wants to become affordable than before so that more people could switch to their sustainable cars. Due to the accelerated effect of global warming, moving towards sustainable energy has been more important than ever.

Tesla Inc (NASDAQ:TSLA) share price experienced an11% rebound on Wednesday after a 21% fall on Tuesday, which was the worst day on record since the multi-billionaire company was launched.

Owing to the surprise non-inclusion of Tesla in the S&P 500 index, the shares of the Company noted a plunge of 21.06% from its previous day close and ended the day’s trade at US$330.21, after hitting a low of US$330.01 intra-day, as on 8 September 2020.

This drop led to erasing of US$16 billion of Tesla’s market capitalisation within 24 hours on Tuesday.

Do watch; Why is Tesla Stock doing so well?

In the last few months, Tesla shares witnessed a rally, which could be attributed to the hopes pinned on Tesla to be included in the S&P500 index. Also, the addition to the index would have called for portfolio managers who replicate the index to purchase more shares. The non- addition of the Company disheartened the investors and led towards the sell-off.

Must read; Tesla Q2 2020 Profit Paves Way to S&P 500

On 9 September 2020, Tesla share price was quoted at US$366.28, noting an increment of 10.92% from its last close. The market capitalisation of the Company was noted at US$341.30 billion.

An increase of 11% in Tesla’s share price occurred between a wider bounce back in the technology sector, reflected through Nasdaq Composite index ending the trading session, with a rise of 2.71% from its last close. Also, the tech giants like Microsoft, Apple and Amazon settled the day rising by 4.26%, 3.99% and 3.77%, respectively.

The performance of the Elon Musk’s clean-energy-car company has been good despite the economic crisis caused by the COVID-19. This year has brought a 340% increase in the Tesla’s total worth.

What was Tesla’s mission?

Launched in 2003, the engineering team behind Tesla had an idea of a better energy sustainability.

Due to the accelerated effect of global warming, moving towards sustainable energy has been more important than ever – hence Tesla’s agenda was to show that people do not need cars fueled by petrol to enjoy driving. The plan was to make electric cars more attractive and driving them more fun.

Interesting Read: Tesla Surpasses Toyota, Becomes the Most Valuable Global Car Maker

Innovative technology

Five years later (in 2008), Tesla came up with the innovative high-tech battery and electric powertrain.

With the new technology, Tesla managed to create the very best car in its class – Model S. It was the first luxury sedan that was completely powered by an electric battery, which then became the best car in its class and across all other categories.

According to the measurement by Motor Trend, Model S only took 2.28 seconds to the 0-60 acceleration, setting high standards for cars in the 21^st century. The new model was the first car that had the over-the-air technology, meaning the car’s software would get updates over time and become even better than it was after being purchased. Apart from that, Model S offers performance, efficiency, safety, and fancy looks making it the most desirable car of this day and age.

2015 brought a new sustainable car, Model X, a sports vehicle that brings the outmost safety, at the same time – National Highway Traffic Safety Administration gave it a 5-star grade.

In 2016, Tesla’s co-founder and CEO Elon Musk completed Secret Master Plan, presenting a new car Model 3, which was put on the market a year later. Model 3 offered sustainable perks for the cheaper price.

Tesla did not just stop on manufacturing cars, but revealed their first semi-truck Tesla Semi, not too later. Tesla Semi was created as a cost-effective vehicle that would save up to US$200,000 for fuel only.

The most recent car, Model Y, was introduced in 2019 as an SUV with the maximum of seven seats and Cybertruck, is a no ordinary vehicle that got the best of both worlds – a better performance than a truck and a sports car.

Safety first

Tesla takes safety very seriously and has mandatory training programs for all the employees before they come to the factory. They also want to have constant improvements; therefore, they are offering regular trainings so that their employees can improve their skills swiftly and perform better in future

Energy solutions

New solutions namely Powerwall, Powerpack and Solar Roof allow ordinary people and businesses to participate in creating a more sustainable energy. In Gigafactory-1, Tesla creates thousands of job opportunities, and have introduced a new battery technology, which is getting more popular and wanted day by day.

Good Read; Elon Musk Ramps Up Tesla’s Pace, Says California Production Will Restart Amid Pandemic

Future awaits

Tesla showed that their only limit is their imagination. In the future, the Company wants to become affordable than before so that more people could switch to their sustainable cars. Tesla has been only showing growth and a high drive to make the world a better and cleaner place to live in.

Must Watch; Find out how Tesla has reported a quarter net Profit amid covid19!