Tesla reached a $100 billion market cap for the first time on 22 January. The market value reached more than $107 billion, up by more than 8% before dropping at the end of the day. Since the beginning of this year, shares of Tesla’s stock have been rising and are up more than 34%.

After reaching the cap, CEO Elon Musk has the option to purchase 1.69 million shares of its stock at $350.02 a share. Analysts say that amounts to more than $371 million if he sold the shares. However, Tesla’s market cap has to stay at $100 billion for six months for that option.

Tesla’s fortunes have been improving ever since it reported a surprise profit in the third quarter, with the increased demand for electric cars.

In the fourth quarter, Tesla said it sold 112,000 vehicles across the globe. For the year Tesla said it delivered 367,500 vehicles. For comparison, it delivered 245,240 vehicles in 2018.