Original title: after the market capitalization surpassed JPMorgan Chase & Co and Procter & Gamble Co, Tesla, Inc. 's next goal: Walmart Inc Source: Tencent Securities

Tencent Securities on July 14, Tesla, Inc. shares hit a new high on Monday, continuing the recent rise in Changhong, making its market capitalization more than many American industry giants.

The company's shares rose more than 13 per cent to $1744.11 in intraday trading on Monday and have more than tripled in 2020. The stock has risen in nine of the past 10 sessions, up nearly 30 per cent in the past three days alone.

By contrast, the S & P and Dow are still down slightly this year, and the US economy is in recession as business activity across the US is halted by the COVID-19 epidemic.

What is the current market capitalization of Tesla, Inc.? The recent surge has brought its market capitalization to $321 billion, surpassing JPMorgan Chase & Co, the largest bank in the United States, as well as Procter & Gamble Co and UnitedHealth Group Inc Group. The electric car maker is also larger than Bank of America Corporation and Wells Fargo & Co combined, according to FactSet.

The stock rose in part because of investor optimism about the company's results on July 22nd. Some investors expect the carmaker to make unexpected profits. That would qualify the company for inclusion in the S & P 500 and could spur more trading activity around its shares. At least $1.6 trillion of mutual funds and exchange-traded funds track the index, according to Morningstar.

The stock's rapid rise reminds some investors of the tech bubble of the 1990s. Others compare Tesla, Inc. to technology companies such as Apple Inc that are sure to change the world.

If it entered the S & P 500, it would be the 10th largest company in the index, slightly below Walmart Inc, whose market capitalization is about $374 billion. And Tesla, Inc. 's bull market continues. (midsummer)