Author: Tronserve admin
Thursday 29th July 2021 11:51 PM
Tesla Doubles Up on GM, Ford
After a string of quarters showing million dollar loses, Tesla recorded a quarterly profit last October. The uptick stemmed from improved delivery rates and other more efficient approaches to sourcing and production.
Prior to the news last October, Wall Street stressed concerns over the long-term viability of the Fremont, CA-based automaker, which has yet to post a profitable year. Some of the concerns seem to have been, at least temporarily, quelled. Recent market capitalization reports, which show the value of a company by multiplying all of its shares by the current stock price, place Tesla at $90 billion.
This compares to $36 billion for Ford and $51 billion for GM. Toyota’s market cap is $198 billion. Analysts are predicting another surge in Tesla stock prices if the company posts a second consecutive quarterly profit.