Tesla Stock Essay

253 Words2 Pages
Electric car maker Tesla’s stock gushed to a record, passing over the century-old rival Ford Motor Co’s market value. At the close of trading, Tesla ended up with a market value of $48.2 billion, which is $3.1 billion more than Ford, America’s second largest automaker after General Motors Co. As it’s worth a celebration, Tesla CEO Elon Musk took to Twitter to poke fun at short sellers.
After the company reported its delivery of 25,000 vehicles (around 50% of which were the Model X), its stock was up as much as 5.8 percent in the first quarter of this year. It gives the investors a hint that Tesla can back up its objectives for progress ahead of the launch of the Model 3. Also, Tencent’s investment in the electric car startup helped raise