Tesla Becomes Most Valuable US Automaker - NBC 5 Dallas-Fort Worth
National & International News
The day’s top national and international news

Tesla Becomes Most Valuable US Automaker

The electric car company sold about 76,000 vehicles last year, a fraction of the 10 million sold the same year by GM

    processing...

    NEWSLETTERS

    Tesla is making more than electric cars and batteries -- it's making history. Scott Budman reports. (Published Monday, April 3, 2017)

    Tesla overtook General Motors during trading Monday to become the most valuable automaker in the United States, CNBC reported.

    The electric car company sold about 76,000 vehicles last year, a fraction of the 10 million sold the same year by GM.

    But Tesla's market capitalization, which is calculated by multiplying the total number of shares by the present stock price, hit about $51 billion, Bloomberg reported. That was about $1.7 billion more than GM, as of 9:35 a.m. ET.

    PiperJaffray analyst Alexander Potter said in a note that Tesla has a "captivating impact on consumers and shareholders alike" that will be difficult for competitors to replicate.

    Attack Kills 13, Police Kill 5 Suspects in Spain: Officials

    [NATL] 13 Killed in Car Attack in Barcelona; 5 Suspects Killed in Cambrils: Officials

    A white van jumped the sidewalk in Barcelona’s Las Ramblas district on Aug. 17, 2017. Police say 13 people have been killed and more than 100 injured in this terrorist attack. The area is one of the city’s top tourist destinations. Later, police shot and killed five terror suspects in Cambrils, Spain, in a separate incident.

    (Published 3 hours ago)

    Tesla shares rose more than 3 percent to reach a fresh all-time high of $313.73 in midafternoon trading Monday, after receiving the highest price forecast ever issued for the stock by an analyst at a major firm.

    The stock closed up over 3 percent at $312.39 per share.