moving now on to Tesla's stock market Journey that captured the attention of investors and analysts alike after an awe-inspiring 13-day winning streak Tesla's remarkable rally finally met its match ending on Wednesday during this unprecedented run Tesla's stocks skyrocketed adding over 2 billion dollars to its market value a fee that could that few could have predicted the surge in the market capitalization that amounted to nearly 240 billion dollars so passing the total value of Japan's renowned automaker Toyota Wall Street was left to know as Tesla shares surged by more than 40 pushing its market value to a staggering 814 billion dollars the rally was ignited by a groundbreaking development Legacy automakers Ford and General Motors announced their adoption of Tesla's charging system that's known as the North America charging standard this strategic move it effectively placed 60 percent of the US Electric Vehicle Market on Tesla's charging infrastructure cementing its dominance in the industry while other charging system exist globally the partnership with Ford and General Motors that gave Tesla an unprecedented advantage in the American Market now despite Tesla's impressive rally its stock prices continues to defy wall Street's forecast sitting 28 higher than the median Target of 200 among analysts Tesla stratospheric price to earnings ratio surpasses that of other automakers another important Point here with a forward p e ratio of around 62. Tesla stands just below Amazon's ratio of 63.7 in comparison traditional automakers Ford and General Motors both significantly lower ratios of 8.2 and 5.6 you can see on the screens there analysts draw parallels to Amazon's history of defying expectations as Tesla's recent search of Oaks memories of the e-commerce Giants own remarkable trajectory here the 13-day rally while impressive it also carried consequences for short sellers they suffered Market to Market losses Mark to Market losses pardon me exceeding 7 billion dollars contributing to their year-to-date losses reaching nearly 12.7 billion dollars so this roller coaster ride in Tesla stock price serves as a reminder of the volatility inherent in the market Beyond is now available in your country download the app now get all the news on the move
