Tesla Passes Facebook to Become 5th-Largest U.S. Public Company
- The EV maker’s market value hit $1 trillion on Monday
- Facebook gains postmarket after reporting 3Q earnings
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Tesla Inc. has surpassed Facebook Inc. to become the fifth-largest publicly traded company in the U.S.
The milestone, which it hit briefly on Friday, was solidified Monday after car-rental company Hertz Global Holdings Inc. said it placed an order for 100,000 Tesla vehicles. Tesla’s shares closed up 13%, the most since March, giving it a market value of $1.03 trillion.