Tesla now records current market capitalization that is approaching $83 billion
In the midst of all the US-Iran drama, one company, dedicated to making a better future for all of us, is making strides in becoming the single most valuable car company ever. During midday trading Tuesday, Tesla stock was up by almost $7, or 1.5%. By contrast, the S&P 500 is down about 0.3%. In turn, this marks another all-time high for the electric vehicle pioneer. Furthermore, Tesla (ticker: TSLA) shares are up a whopping 93% over the past three months and have soared almost 10% year to date. This is far better than the 0.4% gain of the Dow Jones Industrial Average. However, this current gains in Tesla stock values are only a part of the picture as the gains have currently made Tesla the most valuable car company in America. Ever.
This is due to Tesla’s current market capitalization approaching $83 billion. Overall, that exceeds the peak Ford Motor (F) market value that reached about $81 billion, set way back in 1999, according to Dow Jones Market Data. Additionally, the market value of the EV maker is now larger than prebankruptcy General Motors (GM), current General Motors and the pre-Daimler (DAI.Germany) Chrysler or Fiat Chrysler Automobiles (FCAU). And this merger was made way back in 1998, over 20 years ago. Right now, Tesla is single-handedly making the automotive industry take note, pushing the electric vehicle into the mainstream with great success. The market cap is nothing to be surprised with, as they are slowly getting to a point where the California-based carmaker will be among the biggest and most powerful carmakers in the history of the world.
Right now, it’s safe to say that after Henry Ford, Alfred Sloan, Kiichiro Toyoda, Ferdinand Porsche, Lee Iaccoca and the likes, Elon Musk is now slowly pacing himself to a place on the world’s automotive Mount Olympus in every way. Whatever some may say. And overall, if his EV dream becomes a full-fledged reality, boosted by both renewable and nuclear energy, we might actually be able to turn the whole global warming thing upside down. And Elon Musk will certainly be one of the key people to do it, that’s for sure.
Source: Market Watch