Tesla’s gonzo market cap is so enormous that its daily swings in value often exceed the sum total of most major automakers. On slow days it might only be the equivalent of Volvo or Nissan, for example.
However, Monday’s 10% surge added $70 billion, conjuring a value increase approximately the size of the BMW Group out of thin air. That kind of investor euphoria is typically restricted to the realm of artificial intelligence—this instance proves no different.
