Originally inspired by General Motors (GM) ending its EV1 program, Tesla (TSLA) has become the world’s leading electric vehicle manufacturer. In 2023, Tesla generated nearly $97 billion in revenue, and its market cap is over $570 billion.
The company was Yahoo Finance’s top trending ticker of 2023, with over 300 million page views. Let’s take a look at some of the company’s biggest moments with Beyond the Ticker.
2003
Originally named Tesla Motors, Tesla was founded by Martin Eberhard and Marc Tarpenning.
2004
Elon Musk joined the company, investing over $6 million of his own money and becoming chairman of its board of directors.
2006
Tesla unveiled the prototype for its Roadster, which entered production in 2008. It was the first all-electric car to use lithium-ion battery cells.
2007
After co-founders Eberhard and Tarpenning left the company, Musk took over as Tesla CEO.
2010
On June 29, 2010, Tesla went public via IPO on the NASDAQ at $17 per share.
2016
Tesla unveiled the Model 3, its first mass-market vehicle.
Later that year, Tesla agreed to acquire SolarCity for $2.6 billion.
2017
On July 6, 2017, Tesla stock crashed after delivery concerns. The company lost more than $12 billion.
2020
Defying expectations, Tesla recorded four profitable quarters in a row from 2019-2020, making it eligible for inclusion in the S&P 500 (^GSPC).
2021
On November 4, 2021, the company reached an all-time high stock price of $409.97.
2023
Originally introduced in 2019, the first Tesla Cybertrucks were delivered to customers in November 2023.
Tesla continues to produce despite its setbacks due to lawsuits, manufacturing delays, and Musk’s controversial statements. Investors will continue to wait for the next wave of innovation from the world’s most valuable automaker.
From tech giants to retail titans, Beyond the Ticker is a historical series that takes a deep dive into some of Wall Street’s trending companies and how they transformed into the financial icons they are today.
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