Tesla Passes GM and Ford to Become the Most Valuable US Automaker

Article Written by : Legendary Videos

Here’s a shocking development in the auto world: Tesla, the producer of ...

Here’s a shocking development in the auto world: Tesla, the producer of high-end electric cars, has surpassed Ford and General Motors in terms of market capitalization, making it – financially and empirically – the most valuable US automaker.

Investors are obviously banking on Tesla’s potential and appear to be trivialized by factors like the company’s $773 million loss last year and the fact that it only sells a small fraction of the vehicles delivered each year by its competitors. Tesla sold about 76,000 cars in 2016 compared to Ford’s 17.5 million and General Motors’ 10 million.

Amazingly, Tesla’s value has risen by 17% since the start of 2017. At about $300 per share, it is now valued at a staggering $53 billion at the time the video was created. By Monday’s mid-afternoon trading,┬áTesla shares rose over 3% to hit a new all-time high of $313.73 after receiving the highest price forecast ever issued for the stock.

The latest developments make Elon Musk’s car company the sixth-largest in the world behind Toyota, Germany’s Big 3, and Honda. Concurrently, Tesla is expected to release its $35,000 mass-market Model 3 later this year, as Musk and the boys at Palo Alto hope to shed their status as a niche car manufacturer.

Watch the video below for Cold Fusion’s┬átake on Tesla’s surprising surge, the reasons behind it, and some questions about the company’s future.

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