A good day for Elon Musk’s Tesla … it delivered less cars than Ford, but the company is valued at $47.8 billion … $2.7 billion more than Ford!
Ford is currently valued at about $45.1 billion. Tesla is now worth $47.8 billion, reports Bloomberg. Last year, Tesla delivered less than 80,000 cars. Ford, America’s second largest automaker, sold 6.7 million vehicles.
Tesla’s stock was up over five percent after reporting it has delivered 25,000 vehicles (nearly half of which were the Model X) in the first quarter of 2017. Investors take it as a sign that Tesla can back up its goals for growth ahead of the launch of the Model 3. Tencent’s investment in the electric car startup helped boost its price, too. Of course, Tesla CEO Elon Musk took to Twitter to poke a little fun at those who paint a dark picture Tesla’s future.
Source: Engadget
Tesla Inc.’s Elon Musk poked fun at short sellers as his electric-car maker’s stock surged to a record, vaulting its market value past century-old rival Ford Motor Co.
“Stormy weather in Shortville…” the chief executive officer tweeted Monday, as Tesla shares climbed as much as 5.8 percent. The maker of Model S sedans and Model X crossovers saw its capitalization surge to about $48.2 billion, $3.1 billion more than Ford, the No. 2 automaker in the U.S. after General Motors Co.
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