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Tech Thursday - 23rd January 2020

Welcome to the first edition of Tech Thursday.

In these pieces, posted each Thursday, we will update you on some new and exciting technology-related news.

These articles won't necessarily talk about just Cryptocurrency technologies, it can be about anything! Today's instalment, for example, is all about Tesla.

Tesla market value hits $100 Billion

Tesla has now displaced Volkswagen, becoming the world's second most valuable automobile maker, after a recent surge in share prices pushed its market value to over $100 billion.

Since October 2019, the company's share price has more than doubled after they reported a rare quarterly profit.

The recent success is impressive, but Tesla still has a long way to go to reach the top spot, currently held by Japanese giant Toyota - valued in the stock market at over $230 billion.

Analysts say that the recent rise in price could be a reflection of Tesla's performance in the months ending 2019, during which time the company opened a factory in Shanghai, China.

Tesla states that they delivered around 367,500 cars during 2019 - a 50% increase from their 2018 production and delivery figures.

Despite this large increase, Tesla's total sales still remain small in terms of sheer numbers compared to those of its competitors. For example, Toyota sold more than 9 million cars during the first 11 months of 2019.

In the same period, Volkswagen delivered nearly 11 million cars.

Despite making a quarterly profit in the closing stages of the last year, Tesla is still yet to make an annual profit.

Tesla is an exciting company to follow, and we are looking forward to seeing what they can do in the months and years ahead.

What do you think about Tesla? Maybe you already own a Tesla and would like to let us know your thoughts on this recent news and what it means for the company. Let us know in the comments section.

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