5 Companies That Benefited The Most From The Pandemic

3. Tesla Inc. (NASDAQ: TSLA)

Market cap on Dec 31, 2019: $75.74 billion

Market cap on Dec 31, 2020: $677.4 billion

Market cap added: $601.66 billion

Electric vehicle (EV) maker Tesla ranks 4th on our list of the companies that benefited the most from the pandemic. At the end of December 2020, Tesla Inc had a market cap of $677.4 billion, an increase of 784% from the previous year. According to the company’s 2020 full-year revenue report, Tesla’s total revenue came in at $31.5 billion. 

Tesla also made a comeback with its strong EV sales. According to the full-year 2020 revenue report, Tesla produced and delivered half a million electric vehicles, compared to 600 cars per year five years ago. In 2020, Tesla held 80% of the EV market share in the US. According to an analysis by Morgan Stanley reported by CNN, the company’s market share fell to 69% in February as Ford steps into the scene with the new all-electric Ford Mustang Mach-E.

In February 2021, Tesla purchased $1.5 billion worth of Bitcoin. The EV company also announced its plans to accept Bitcoin as payment. If this becomes implemented soon, it would make Tesla the first major automaker to do so.

Image by Blomst from Pixabay