Tesla (TSLA) Stock Rose 5.17% Yesterday, It Is 5,900% Up Since Debut Decade Ago

UTC by Steve Muchoki · 3 min read
Tesla (TSLA) Stock Rose 5.17% Yesterday, It Is 5,900% Up Since Debut Decade Ago
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Tesla stock closed yesterday at $1,009.35. 10 years ago, the price at the debut was $17. If we take this price, the growth is 5,900%, if we take the price at the end of the first trading day – $23.89, the growth is 4,200%.

American electric vehicle and clean energy company, Tesla Inc (NASDAQ: TSLA) has risen to clinch among the top winners in the past decade despite the coronavirus pandemic. The shares have been lucrative for most top end hedge fund managers and other investors. The growth of the Tesla stock price since its debut is really impressive.

Led by the ambitious CEO Elon Musk, the company has been delivering on its products although not all timely. As a result, a number of Wall Street analysts have rated the shares a strong buy, with prospects of hitting a triple figure current value.

As of yesterday, June 29, 2020 7.59 p.m. EDT, the shares were trading at $1,009.35 but are slightly down in the after hours.

Tesla has been succeeding in a market that was dominated by other carmakers due to a number of reasons. One, the strong leadership has seen it through challenging times especially when the COVID-19 disrupted its supply chain both in the U.S. and China where its factories are situated.

On the other hand, the success might be attributed to the fact that the company is delivering the next generation type of vehicles that most global leaders are advocating for.

Since the beginning of the year, its shares have seen the volatility spike due to mostly fear that a recession could result in further downfall. However, the company has fairly performed well in comparison to other industries that are still down due to the coronavirus crisis.

According to Marketwatch data performance, Tesla shares have added 344.31% in the past year, 141.28% YTD, 101.01% in the past three months, 12.39% in the last month  and 1.51% in the past five days. The outstanding performance is anticipated to continue in the next years even post COVID-19.

Tesla Shares ROI Since  Debut Is Mindblowing

Tesla, Inc filed for its IPO with the Securities and Exchange Commission (SEC) on Jan 29, 2010. According to its preliminary prospectus, on June 29, 2010, Tesla Motors launched its IPO on the Nasdaq exchange. The company had offered 13.3 million shares that were priced at $17 per share, hence raising $226.1 million.

However, on the same day the shares jumped by 40.53% to close the day at $23.89. Fast forward 10 years and the shares are trading slightly above $1000.

To put the figures into perspective, if you invested $1000 at the time of IPO launch and held the shares till now. Your 58 Tesla shares would be worth nearly $60,000. This makes the company one of the best places to invest into mostly as a long-term investor.

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Steve Muchoki
Author Steve Muchoki

Let’s talk crypto, Metaverse, NFTs, CeDeFi, and Stocks, and focus on multi-chain as the future of blockchain technology. Let us all WIN!

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