Tuesday April 04, 2017

Tesla Now Worth More Than GM, Making It the Most Valuable US Automaker

Following Ford’s defeat yesterday, Tesla has now leaped ahead of General Motors, which means the premium electric car and SUV company is now top dog in the car world. Part of this success is owed to the Model 3, which is generating a ton of hype and potential for Tesla. Assuming that manufacturing goals are met, it should be interesting to see how the stock prices look following that quarter.

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Tesla is trading up again today, after a strong run yesterday that saw its total market cap value leapfrog Ford’s. It passed GM’s market cap on Tuesday, meaning it’s now the most valuable U.S. automaker as measured by the stock market’s standards. It looked quite likely that this was going to happen yesterday, and Tesla’s stock has been on a tear following its report that both car production and car deliveries were up during the first quarter of the year. The big established U.S. automakers, by contrast, had bad news to report for first quarter vehicle sales in the U.S., which makes Tesla look like a strong growth stock and competitors look like stable performers, at best.