- According to Yahoo Finance, the market cap of Tesla now stands at a whopping $101.8 billion.
- Elon Musk’s Tesla has surpassed the combined valuations of General Motors ($49 billion) and Ford ($35 billion).
Bitcoin, which was priced at $998 at the beginning of 2017, surged to an all-time high of $20,089 by the year-end. Recently, the Wall Street legend Michael Novogratz said that he sees a similar script happening for Tesla this year.
#TSLA starting to feel like $BTC in 2017…. a mania…
According to Yahoo Finance, the market cap of Tesla now stands at a whopping $101.8 billion. It is the most valuable car company in the US, foreshadowing the combined valuations of General Motors ($49 billion) and Ford ($35 billion).
Some short-sellers, however, are not ready to give up their positions yet, pointing out to the fact that Tesla sold a mere 367,500 units in 2019 compared to Ford’s 2.41 million and GM’s 2.9 million.
Citing information from S3 Partners, Business Insider said that the traders betting against Tesla have lost $3.3 billion year-to-date. But Tom Thornton of Hedge Fund Telemetry says the stock is moving too far too fast.
The fundamentals in my view just don’t support [the price]. This crazy stock continues to amaze me.
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