Thanks to COVID-19, Tesla is worth $90B more than Ford and GM combined

1w ago

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Since it roared onto the scene with the now iconic Model S, Tesla has never been a traditional company. It's eccentric CEO always kept the world on its toes by creating vehicles with impressive performance, sprinkling in some insane merchandise; most notably a "not a flamethrower" (not technically sold by Tesla but very much an outlandish thing for a CEO to offer) and thinking so out of the box that a vehicle turned around and became one (*cough CYBERTRUCK *cough*).

He's also managed to keep his company from being heavily influenced by the stock market. Despite repeated calls by stock advisors that Tesla is "overvalued", "doomed to fail", and "unable to uphold its promises", Tesla's stock just continues to gain and retain value. That hasn't changed, despite a massive global pandemic that has brung the world's economy to a halt.

In the wake of the Coronavirus pandemic, Ford Motor Company's stock price fell by more than half; from around $9 a share to just over $4 a share. It has since recovered a bit to $5.65 a share as of today's market close, but it's been a slow process. Its current market cap is $22.47 billion. The same can be said for GM's stock. It was positioned at about $35 a share in mid-February before bottoming out at just under $18 a share. It also has rebounded, gaining $8 to $25.98 as of today's close. Its current market cap is $37.18 billion.

Tesla refused to follow typical market trends as per usual. In mid-February, Tesla peaked at over $900 a share before it also tumbled in March. It bottomed out at $361 a share but has very rapidly rebounded to $816.88. Its current market cap is $151.43 billion, a whole $91.78 billion more than GM and Ford combined. It's regained over $75 billion in value in just 2 months. Part of that could be attributed to Tesla's decision to restart their main production plant in Fremont, California despite Alameda County's shutdown orders. All we know is that Tesla always has been and forever will be an unpredictable entity in the automotive space.

What are your opinions on Tesla? Let me know down below.

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Comments (16)

  • It seems like everyone is worth more than Ford and GM combined. First Ferrari, now Tesla. Who’s next?

      10 days ago
    • To be fair, they'd be combined at about 100 billion if it weren't for the rampant COVID 19 situation here in the states. We've just been so shutdown for so long

        10 days ago
    • Yea true

        10 days ago
  • That sucks

      9 days ago
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