Stunning Video Chart: Tesla [TSLA] vs. Other Auto Company Market Cap Changes (2006–2020)
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We don’t often cover the day-to-day or even month-to-month stock market frenzy, but there is no doubt that growth in Tesla [NASDAQ: TSLA] market cap has been a stunning thing to witness in recent years, and especially in the past year. [Full disclosure: I own stock in Tesla/TSLA, and this is not investment advice of any sort.]
Someone recently dug up a lot of data to visualize top auto company market caps from 2006 to the end of November 2020. The video chart is fairly stunning to watch, no matter what your stance is on Tesla/TSLA, so here it is:
If you haven’t seen this video yet, then check it out 🤯 @elonmusk pic.twitter.com/vWmXYkKXdk
— Tesla Owners Mexico 🇲🇽 (@co_tesla) December 11, 2020
I don’t have much extra commentary to add onto this right now. However, I think the most interesting thing related to this is that there have been notable crossovers in terms of overall energy industry matters this year.
For one, Tesla’s market cap surpassed Exxon’s [NYSE: XOM] market cap earlier this year (and is now far, far higher).
In June, it passed up Toyota to become the highest valued automaker (not that it’s only an automaker) on the stock market.
The following charts just cover US auto sales, not global sales, and just cover the first 3 quarters of 2020, not 2020–2030, but they are perhaps a hint at some of the reasons why these changes are happening.
Furthermore, when Tesla joins the S&P 500 on Monday, it will kick out an oil company, Occidental Petroleum.
Also notable: oil prices were hit so badly earlier this year that they went negative for a short time on Elon Musk Day. Fate ♥ irony, as Elon loves to tweet.
But that’s not the last of the irony. Interestingly — whether intentional or by chance — Tesla is being added to the S&P 500 on the shortest day of the year. If you’re new to the topic, Tesla has routinely been the most shorted stock no a US stock market in the past few several years. (Short sellers bet that the stock price will go down.) Tesla short sellers have reportedly lost more money shorting TSLA this year than the entire US airline industry lost as a result of the coronavirus pandemic. That’s stunning. It’s incomprehensible. We genuinely cannot wrap our minds around the scale of several factors here, let alone the ramifications.
Even if you don’t care about stocks at all, the Tesla stock story offers an enormous amount of classically entertaining drama. It is one for the history books, or a Hollywood film. Jon Favreau, Don Cheadle, Morgan Freeman, Mark Ruffalo, and Mark Ruffalo, let us know if you’d like to collaborate on that.
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