Shulou(Shulou.com)11/24 Report--

Shares of US electric car maker Tesla fell slightly at the close of trading on Wednesday, ending 13 consecutive days of record gains that have boosted Tesla's market capitalization by more than $200 billion, CTOnews.com reported on June 15.

During this period, Tesla's share price has risen by more than 40%, with a market capitalization of about $814 billion, and an increase of nearly $240 billion (CTOnews.com Note: currently about 1.72 trillion yuan), an increase equivalent to the entire market capitalization of Japan's Toyota, the world's second-largest carmaker.

Tesla's rise was triggered by news that traditional US carmakers Ford and GM adopted Tesla's charging system, which means that 60 per cent of the US electric car market uses the North American charging standard (NACS) adopted by Tesla.

With this rally, Tesla's ridiculously high price-to-earnings ratio far exceeds that of other carmakers. Eikon data show. Tesla's forward price-to-earnings ratio is about 62, just below Amazon's 63.7. By contrast, Ford and GM have price-to-earnings ratios of 8.2 and 5.6, respectively.

Tesla's share price fell sharply in 2022, down 65%, making a lot of money for short sellers. The 13-day rally cost short sellers more than $7 billion, and nearly $12.7 billion so far this year, according to S3 Partners.

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