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PHOTO CAPTION: Tesla Motors peaked at $173 a share and fell back to record $164.22.

Telsa Motors Market Value Now Exceeds $20 Billion

Shares of TSLA closed on Monday, August 26, 2013 at a record $164.22 on the NASDAQ.

Published: 27-Aug-2013

With electric-car maker Tesla witnessing a notable increase in its sales, thanks largely to the efforts made by the automaker's billionaire Chairman and CEO Elon Musk to widen the appeal of electric vehicles (EV), the market value of the company has surpasses $20 billion in intraday trading.

As a result of investor optimism, the Tesla stock saw a 1.5 percent increase, before finally closing at a record $164.22, in New York on Monday. The close came after a 6.9 percent rise in the company's stock, to an intraday high of $173.

The fall in Tesla's stock after the intraday gains was chiefly an outcome of Secretary of State John Kerry's announcement that the U. S. will hold Syria's government accountable for the use of chemical weapons. After the fall, the final market valuation of Tesla at close on Monday was nearly $19.9 billion.

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