Tesla passes Visa to become seventh U.S. company by market capitalization


Shares of Tesla Inc. TSLA,
+ 12,56%
climbed 12.6% in Monday’s trading, helping the automaker to become the seventh-largest U.S. company by market capitalization. Tesla ended Monday’s session with a valuation of $ 464.3 billion beating Visa Inc. V,
for the first time to take control of Slot Machine No. 7, according to Dow Jones Market Data. Visa ended the day with a valuation of $ 451.1 billion. Monday’s rally continues a strong ascent for Tesla stock and marks the first day of trading in stocks on a split-adjusted basis. Tesla announced earlier in August that it would conduct a split of five for one of its shares, and the split officially took place after trading closed on Friday. Tesla shares have risen nearly 200% in the past three months and they are up about 500% on the year. The S&P 500 is up 15% in three months and 8% so far in 2020.


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