Tesla Motors Market Value Briefly Rises Over $20 Billion

Now famous electric car maker Tesla Motors, Inc. (market symbol TSLA) yesterday briefly reached a new record market cap of 20 billion dollars during New York trading.
Take the Tesla shaft 1 photo
Photo: Tesla via Facebook
Market valuation is determined by multiplying the stock price by the number of sticks that exist. Tesla shares soared to a new record of $173 before settling at $164 by the end of the day. In pre-market, at the time of writing they are down to $161, but that still means the company is worth over $19 billion.

Investors are paying close attention to every move the company makes and every statement made by the charismatic CEO Musk. Tesla expects to deliver 21,000 cars this year, this despite them costing over $60,000 each.

What's interesting is that the biggest American automaker by sales, General Motors, is only worth $49 billion while Ford's market value is $65 billion. Investors are obviously factoring in a huge future growth spurt for the electric car market. Question is, is a company that only makes one car at the moment really worth a third of Ford?
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About the author: Mihnea Radu
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Mihnea's favorite cars have already been built, the so-called modern classics from the '80s and '90s. He also loves local car culture from all over the world, so don't be surprised to see him getting excited about weird Japanese imports, low-rider VWs out of Germany, replicas from Russia or LS swaps down in Florida.
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