Tesla (Nasdaq: TSLA) shares charged to an all-time intraday record of $294.15 Monday, catapulting the company above Ford Motor Co. to become the second largest U.S. automaker by market capitalization. Tesla has a market capitalization of over $47 billion versus Ford’s $44 billion. This also puts Tesla just shy of becoming the largest automaker in the U.S. The title is currently being held by General Motors Co. with a market cap at roughly $51 billion.
Tesla stock surged 5.7% in early trading Monday morning after the Palo Alto-based electric car company announced over the weekend that it had delivered approximately 25,000 Model S and Model X vehicles in the first quarter. The record-setting delivery number was largely bolstered by a 21.5% increase in Model X deliveries over the previous quarter, and a steady increase in Model S deliveries at 5.9%. Despite early complaints that Tesla’s “best car ever”, as proclaimed by company CEO Elon Musk, suffered quality issues with the vehicle’s complex Falcon Wing doors, the company has been able to address issues through a series of over-the-air software updates aimed specifically at Model X. Tesla’s Q1 delivery numbers validates the continued consumer interest in the company’s flashy electric SUV. Tesla delivered nearly as many Model X as its award-winning Model S in the first quarter.
The upward movement in Tesla stock also comes amid general investor optimism over the company’s planned production of its Model 3 mass market sedan. A first look at Tesla’s Model 3 release candidate revealed that the company was on track to begin production in July. First deliveries of Model 3 will be rear wheel drive versions made available to employees. The Model 3 Design Studio configurator is expected to be released sometime in June and around the same time the company will hold its third and final Model 3 event.
Interested in solar? Get a solar cost estimate and find out how much a solar system would cost for your home or business.
Recommended for you
Top Rated Comments (view all)
Discuss: News
Log in with:
Or sign up with TESLARATI:
Not really a valid comparison since Tesla cars just make up one small portion of it's value as a stock since taking over Solar City and producing batteries, solar installations, etc. It is in fact comparing apples to oranges. So many people try to pad their backs off of false facts.
Yes, but isn't it interesting that, only a few months ago, folks were looking at the Solar City acquisition as one driver for T≡SLA's downfall and now you include it as one of the value engines pushing the stock higher?! ;)
Did you ever have faith in T≡SLA, I wonder...?
With all due respect, you never cease to amaze me, @gizmowiz ... :/)
[MEDIA=twitter]849267876083191808[/MEDIA]
Everyone was forecasting Solar City to declare bankruptcy just a couple of years ago. So unless Tesla gets it's act together and actually starts producing those roof top tiles at a competitive price with older Solar City systems--then it will fail.
But I'm hip on all solar I have Solar City roof myself over 1.1 kW system.
And I'm just pissed at Tesla for it's attitude for it's loyal customers who signed up thinking the reservation system was the priority list it would be following for ALL orders. Only to find they are giving 1st choice to pre-vious owners, 2nd choice to Californians, 3rd choice to RWD lovers, and last choice to those wanting AWD regardless of their reservation # sequence. That in my book is fraud and certainly rude. They just keep changing the rules. Not nice.
(...) And I'm just pissed at Tesla (....)
That much is clear... yet aren't you a little too hard...? To a large extent, the priority order was known all along, and some of us have kept on trying to tell you that you still would have had a good shot at the full federal tax credit despite the 6-9 months delay... But you decided to cancel your reservation so, che sera, sera... As I said, hope you don't come to regret it... or is this lingering frustration a sign you've already started to...? :rolleyes:
Well, it (still) is a free country... Take care...
