Tesla’s share price has reached an all-time high despite political turmoil in the US and widespread fears that the pandemic has fuelled a fresh technology bubble.
The electric carmaker’s market value reached £774 billion on Friday on the back of a bumper year in which its share price has increased by 729 per cent over the past 12 months. Tesla’s rally has propelled the entrepreneur and co-founder Elon Musk to become the world’s richest person, above Amazon’s chief executive, Jeff Bezos.
There are fears that US companies are in the throes of a bubble similar to the dotcom boom of the 1990s, which was prompted by excessive speculation over internet companies.
Changing habits during the pandemic, such as working from home and online shopping, have