Tesla Motors is now America's most valuable car companyWithout a beat, Powers answered: “Yes, I think we have the potential to do that.”Cuban was in.
JANUARY 8, 2020 / 3:00 PM / MONEYWATCH
Electric car maker is worth more than Ford and General Motors — combined — even as it struggles to turn a profit.
The stock price of Elon Musk's electric car company has more than doubled in the past year, exceeding even the tech entrepreneur's heady target of $420 a share in 2018 and recently approaching $500 a share. That's pushed up the company's stock market capitalization —roughly what it would cost an acquirer to buy all 180 million outstanding shares — to $89 billion. Add in Tesla's stock options for employees and others and the company's total market value is nearly $100 billion.
That's more than the market cap of both General Motors and Ford — combined. It's also more than Ford's peak market value of $78 billion back in 1998, the previous high for U.S. car manufacturers, according to the Wall Street Journal. (Tesla still is worth less than half of Japan's Toyota Motor Corp., whose market cap tops $200 billion.)