Palo Alto, CA-based electric vehicle manufacturer, Tesla Inc.’s market valuation had eclipsed a combined market cap of two of the largest US automakers, General Motor Co. alongside Ford Motor Co. for the first time on Wednesday, the 8th of January 2020, while Nasdaq-listed shares’ prices of Tesla Inc.
had wrapped up the day 4.92 per cent higher to an all-time record closure of $492.14 per share. On top of that, as of Wednesday’s (January 8th) US market round off, the Silicon Valley e-vehicle manufacturer’s market cap hit a record $88 billion, which had been $2 billion higher than a combined market capitalization of the United States No.
1 and No. 2 carmaker, General Motor Co. and Ford Motor Co. respectively. On Wednesday’s (January 8th) market closure, the Detroit-based carmaker GM’s value stood at $49 billion and the Dearborn, Michigan-based Ford’s market cap was lying at $37 billion.
In point of fact, latest landmark achievement of billionaire entrepreneur, Elon Musk’s Tesla Inc. came less than a week after the e-vehicle maker’s fourth quarterly deliveries had beaten a Wall St. estimate by a wider margin that almost tore apart Tesla Inc.
short sellers, who lost more than $900 million over the first week of the new year. Nonetheless, despite Wednesday’s (January 8th) landmark achievement, a record in market cap for any US-based automaker, still more Wall St.
analysts had rated Tesla Inc. stock with a sell rating, as according to data from Refinitiv, among 33 Wall St. analysts, eleven had rated Tesla Inc. stocks with a ‘buy’ rating, while 13 had recommended a ‘sell’ and two remained neutral.