Tesla’s stock has been experiencing a rapid fall in recent days, with the stock price hitting a low not seen in more than a couple of months. The Tesla stock’s market cap now totals “just” $48.58 billion. Since we previously wrote about Tesla becoming more valuable than GM and Ford, it seemed fitting to correct the record and update the comparisons.
Tesla’s $48.58 billion market cap compares to a current market cap of around $52.52 billion for GM and $44.36 billion for Ford. (These figures were current at the end of the trading day on Friday, July 7th, 2017.)
Overall, those figures make for an interesting turnaround, as compared to the situation just a few weeks ago. But of course that’s the stock market for you.
As you may recall, Tesla CEO Elon Musk himself said around the time of the stock’s high point that the market cap was higher than the company deserved. Or, more accurately, he commented that the company hadn’t yet done enough to deserve the extremely high market cap. He has made comments like this from time to time in years past as well.
It’s hard to say exactly what comes next as far as Tesla’s stock price and market cap goes, but it’ll probably depend to a great degree upon the Tesla Model 3 launch — a good launch will probably see some sort of bump to the stock price, a shaky one a drop. Over the longer term, considering how inflated the markets currently are, it’s hard to say when and if Tesla will hit its earlier market cap high again. On the other hand, some of the most outspoken and well known TSLA bulls see the stock price reaching $1000 by 2020.
Before closing out, we should probably remind everyone that Tesla isn’t just a car company. It’s also a solar panel/roof, solar installation, stationary energy storage, EV battery, and charging station company … with more arms in the works. Additionally, GM and Ford have components of their business that go beyond automobile production.
For more information, see:
- Tesla Stock Drops On Production Worries, Crash Test Woes
- Tesla Stock (TSLA) Soars & Passes Ford (F) On Record Production, Model 3 Progress, & Maybe Some Fake News?
- Billionaire Ron Baron Thinks Tesla [TSLA] Can Hit $1,000/Share By 2020
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