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Elon Musk and company haven't had to do much today but sit back and smile as market speculators and, yes, fans of upstart Tesla Motors boosted the electric vehicle company's market value by more than 40 percent.




Tesla Motors was worth about $1.6 billion when Wall Street started trading at 8 am this morning. By late afternoon its worth had soared to more than $2 billion - and CEO Musk's roughly 28 percent stake to more than $560 million - as the company's stock, which opened at $17, jumped to almost $24.50 a share.


Things will settle once opening day hysteria dies down, but in the meantime, it's fun to tally the numbers as they oh, so rapidly change.


In the time it took to write this and the previous paragraph, in fact, Tesla's stock price dropped to close the day at $23.89, knocking almost $15 million off the company's market value but still many, many millions ahead of the day's starting price.




We're gonna stop writing before it changes again in after-hours trading.

Tags: Tesla, Eln Musk, Tesla Motors, Tesla Stock

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Tesla's Market Value - and CEO Musk's - Soars in Wild First-Day Trading was originally published by Green Car Advisor. Read the full story by clicking here.