Tesla keeps growing, it has already surpassed Ford to become the second-most valuable car company in US. The maker of electric cars has a market capitalization that reaches $48 billion, which is more than Ford's $45 billion. The first place is for General Motors with $50 billion. Japan's Honda has a market capitalization of $54 billion.
Elon Musk, Tesla's CEO, made jokes at those who sell the stock short. He posted on Twitter: Stormy weather in Shortville... UPI reports that Tesla doesn't sell as many cars as Fiat Chrysler, Toyota or Volkswagen. But the maker of electric cars has powerful stock valuations and the company is gaining more fans.
Tesla sold about 25,000 of its Model S and Model X vehicles worldwide in the first quarter of the year. On the other hand, Ford and GM sold 617,000 and 690,000 cars and trucks in US in the first three months. Tesla expects to sell 47,000 or even 50,000 vehicles in the first half of this year.
Financial information about Tesla
Tesla's stock gained an impressive 7.3 percent on Monday to reach an all-time high of $298.52 on Nasdaq. On Tuesday, Tesla shares reached $300. Ford's shares fell 3 percent on Monday due to a weak sales report for last month. The past five years Tesla has lost $2.3 billion, the revenues of the company were $7 billion last year. Ford's net income was $26 billion during that time, and its revenues reached $151.8 billion last year.
Ben Kallo, an analyst at Robert W. Baird & Co, said to Bloomberg that he does not know if people want electric cars, but people want Tesla. He also said that he is not an Elon Musk worshiper, but people that would normally buy a Porsche are buying Teslas right now. Elon Musk also runs SpaceX, this company designs, manufactures and launches advanced rockets and spacecraft.