Tesla, as a company, has made huge advances in feasible, all-electric mobility and autonomous technology and has been growing at an alarming rate. One could even argue that it knows how to sell the hell out of its electric cars, evidenced by the delivery of just over 25,000 vehicles in the first quarter of 2017 that included an eight-percent growth in sales for the Model S and 381-percent growth for the Model X over the same quarter in 2016. But, one thing it’s doesn’t do so well is make profit – something that the brand is commonly criticized for by other key players in the business. Be that as it may, the company is doing well when it comes to stock market and valuation.
With production of the Model 3 on the horizon and a record-setting first quarter as far as vehicle deliveries go, Tesla’s stock jumped past the $300 barrier for the first time in company history. But wait; that’s not all. This jump also puts Tesla’s market cap over $52 billion, a feat that puts it above both Ford and GM here in the U.S. As of the time of this writing, Ford’s market cap was $45.07 billion, GM’s was at $51.23 billion, and Tesla hit $52.08 billion. This officially makes it the largest and most valuable automaker in the U.S. by market capitalization.
That’s a pretty big deal for Tesla, especially considering the company rarely turns out a profit. But what does it mean for the long term?
from Top Speed http://ift.tt/2oGMx1H
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