Indian envoy warns of 'big red line,' days after charges laid in Nijjar case
India's envoy to Canada insists relations between the two countries are positive overall, despite what he describes as 'a lot of noise.'
Tesla just became the sixth company in U.S. history to be worth US$1 trillion.
Shares popped more than 12% Monday to close at about $1,025, boosted by two spots of good news: Hertz announced a record order of 100,000 Teslas for its fleet, and influential Morgan Stanley auto analyst Adam Jonas recently raised his price target on Tesla to $1,200 a share.
That hefty one-day gain put Tesla just over the $1-trillion mark. That market capitalization is less than half that of Apple, the most valuable company in the world at $2.5 trillion, and No. 2 Microsoft, which is worth $2.3 trillion. Other members of the trillion-dollar club include Google parent Alphabet, worth $1.8 trillion, and Amazon, at $1.7 trillion.
Tesla is the second fastest company to hit the $1 trillion mark, reaching it just more than 12 years after its 2010 initial public offering. Only Facebook, which needed just over 9 years from its IPO to reach $1 trillion, got there faster.
Apple took the longest, hitting the mark more than 37 years after it started trading in 1980, followed by Microsoft, which took a bit more than 33 years. Amazon needed 21 years, while Google reached the mark for the first time after 15 years. It's not uncommon for companies that reach the $1 trillion benchmark to slip back below it.
Tesla did on Monday surpass Facebook, whose shares are slipping following the release of a large trove of internal documents known as "The Facebook Papers."
Facebook shares closed down more than 5% in Friday trading, and even with a modest rebound Monday are off 17% from the peak earlier this year when the company was valued at more than $1 trillion. Facebook's market cap closed Monday at $927 billion.
For Tesla, by contrast, Wall Street's excitement about the future of electric vehicles has pushed the company's market value to more than the 11 largest global automakers combined.
Tesla is worth more than three times as much as Toyota, the second most valuable automaker, which has a market cap of about $280 billion, and boasts sales and profits that dwarf those of Tesla.
Last year, Tesla sold only 500,000 cars worldwide — meaning its current market value is equivalent to roughly $2 million per vehicle sold.
The company has already sold 627,000 cars so far this year, and is aiming to be close to a million sales for the full year. That would still equate to a valuation of more than $1 million per vehicle, but clearly investors are nonetheless betting Tesla will achieve its target of 50% or more in annual sales growth for years to come.
India's envoy to Canada insists relations between the two countries are positive overall, despite what he describes as 'a lot of noise.'
With Donald Trump sitting just feet away, Stormy Daniels testified Tuesday at the former president's hush money trial about a sexual encounter the porn actor says they had in 2006 that resulted in her being paid to keep silent during the presidential race 10 years later.
The U.S. paused a shipment of bombs to Israel last week over concerns that Israel was approaching a decision on launching a full-scale assault on the southern Gaza city of Rafah against the wishes of the U.S.
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A Calgary bylaw requiring businesses to charge a minimum bag fee and only provide single-use items when requested has officially been tossed.
Two Nova Scotia men are dead after a boat they were travelling in sank in the Annapolis River in Granville Centre, N.S., on Monday.
An Ontario man says he paid more than $7,700 for a luxury villa he found on a popular travel website -- but the listing was fake.
Whether passionate about Poirot or hungry for Holmes, Winnipeg mystery obsessives have had a local haunt for over 30 years in which to search out their latest page-turners.
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Alberta Ballet's double-bill production of 'Der Wolf' and 'The Rite of Spring' marks not only its final show of the season, but the last production for twin sisters Alexandra and Jennifer Gibson.
A mother goose and her goslings caused a bit of a traffic jam on a busy stretch of the Trans-Canada Highway near Vancouver Saturday.
A British Columbia mayor has been censured by city council – stripping him of his travel and lobbying budgets and removing him from city committees – for allegedly distributing a book that questions the history of Indigenous residential schools in Canada.
Three men in Quebec from the same family have fathered more than 600 children.
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A police officer on Montreal's South Shore anonymously donated a kidney that wound up drastically changing the life of a schoolteacher living on dialysis.