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Thursday, January 16th, 2020

Tesla Is Now Worth More Than Ford and GM—Combined

Author:     TIMOTHY B. LEE
Source:     arsTECHNICA
Publication Date:     1/13/2020, 12:00 PM
 Link: Tesla Is Now Worth More Than Ford and GM—Combined
Stephan:   I keep telling my readers that there is no force greater than the collective intention of ordinary people and the decisions flowing from that intention. What, in The 8 Laws of Change, I have called the Quotidian Choice. Here is a wonderful good news example of what I mean. In spite of everything criminal Trump and the Republicans are doing to keep carbon energy alive, an effort motivated by their desire to continue to get the financial support of the carbon industry corporations and its oligarchs, ordinary people are changing the game. You are changing the game.

Elon Musk, chief executive officer of Tesla Inc., gestures during the Tesla China-Made Model 3 Delivery Ceremony at the company’s Gigafactory in Shanghai, China, on Tuesday, Jan. 7, 2020. Tesla kicked off production in China, marking a major step in Musks global push for electric-vehicle domination and heralding what could be the dawn of real competition in the worlds largest EV market. Credit: Qilai Shen/Bloomberg/Getty

Less than a month after Tesla’s stock first rose above $400, the company’s shares have now soared past $500 per share. As I write this, one share of Tesla stock is worth $516, which means the company as a whole is worth more than $93 billion.

The latest rally was sparked by a new report from Colin Rusch, an analyst at the Wall Street firm of Oppenheimer & Co. He revised his Tesla price target upward from $385 to $612. But more fundamentally, the rising stock price reflects the fact that, after a couple years of near-constant chaos, the company seems to finally be executing smoothly.

Tesla delivered 112,000 cars in the […]

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2 Comments

  1. Teresa Dianne Hawkes on Thursday, January 16, 2020 at 6:27 am

    What? How many cars does Tesla have on the road? How many people can afford these expensive wares? Almost none. How many cars do Ford and GM have on the road? How many people in all walks of life have they served over the century of their existence, but we are kissing Musk’s ass because he makes luxury vehicles for wealthy people. This is patriarchal imperial capitalism for you.

    • Rev. Dean on Thursday, January 16, 2020 at 3:24 pm

      I tend to agree with you Teresa; I wish we still had the old cars with no gadgets and no electronic stuff to go wrong so we could fix our own cars like we always did when I was younger. I’ll take a roll up/down window any time over the new ones which, as mine now do, which I cannot fix and are stuck (luckily) in the up position forever.