Tesla’s value tops $1 trillion after Hertz ordered 100,000 of its vehicles

Photo by Joe Raedle/Getty ImagesRental car company Hertz has ordered 100,000 Teslas as part of an ambitious plan to electrify its fleet. A first tranche of Tesla’s Model 3 sedans will be available to rent from Hertz in major US and European markets from early November, said the company in a press statement. The announcement comes just months after Hertz escaped bankruptcy.
After the purchase was announced, Tesla’s stock price reached as high as $998.74 early in the day, increasing its market cap to over $1 trillion before the price dropped again. However, by the time the market closed for the day, its price had risen again, finishing at $1,024.86 per share for a market cap of $1.01 trillion. As CNBC notes, that put it in the rare company of other trillion-dollar market…

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