Feb 3, 2020 - Economy & Business

Tesla shares soar, company gains $23 billion in market value

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Data: Money.net; Chart: Axios Visuals

Tesla shares gained 19.89% on Monday, or over $129 per share, increasing the automaker's market cap by a whopping $23.33 billion.

Driving the news: Panasonic this morning announced that its joint battery-making venture with Tesla turned profitable in the fourth quarter of 2019, although it did not provide specific numbers. A bank analyst also upgraded Tesla today, while one of the company's largest outside shareholders disclosed a slightly increased stake.

Go deeper: Tesla declares 2019 a turning point

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Tesla shares plummet after wild few days of trading

Source: FactSet; Chart: Axios Visuals

Shares of Tesla closed down more than 17% on Wednesday, shredding more than $27 billion in market cap value.

Between the lines: Wednesday ended a streak of eye-popping stock gains for Tesla. Per CNBC, it was the second-worst day for the stock ever.

Tesla gains another $19 billion in market value

Data: Money.net; Chart: Axios Visuals

Tesla is in the midst of what might be the most lucrative one-week run in stock market history, on Tuesday gaining another $19.3 billion in market value. Since the close of trading last Tuesday, it's up 50% to an eye-popping $53.6 billion.

But, but, but: Tesla also fell around $80 per share in the last five minutes of trading.

The vindication of Elon Musk

Photo Illustration: Sarah Grillo/Axios. Photo: Jörg Carstensen/picture alliance via Getty Images

Tesla stock has been in Ludicrous Mode for the past few days. Given its bonkers gyrations, it's now easy to see why CEO Elon Musk might feel that he was right all along in wanting to take the company private back in 2018.