Tesla now highest-valued US automaker ever
Elon Musk should be especially happy this new year. His auto company Tesla started 2020 with a record: It’s now the highest-valued US automaker ever.
Starting the year at $177 a share, Thursday Tesla stock hit a high of $499 per share before falling back down to the $480 range.
But as of Tuesday, Markets Insider writes:
The Elon Musk-led automaker’s recent stock rally pushed its market value to nearly $85 billion at Tuesday’s close, surpassing the $80.8 billion set by Ford in 1999.
Ford had a market value of about $37 billion at the end of trading on Tuesday.
Tesla’s shares continued to climb and traded up more than 4% on Wednesday. So far in 2020, through Tuesday’s close, the stock has gained as much as 12%.