Tesla Stock Surpasses $300 For First Time Ever, Market Cap Jumps Past General Motors

8 months ago by Eric Loveday 69

Tesla Stock Over $300 For First Time Ever

Tesla stock just eclipsed the $300 mark for the first time ever. The automaker’s market cap now exceeds $52 billion.

Over $300 Momentarily And Market Cap Over $52 Billion

It was less than one week ago when we reported that Tesla surpassed Ford in value (based on market capitalization), but not Ford is so far in the rearview with Tesla valued at $52.08 billion and Ford falling to $45.07 billion.

*UPDATE: Tesla market cap now exceeds General Motors. Tesla is at $52.08 billion, while GM currently sits at $51.23 billion. Tesla is now the highest valued U.S. automaker! Look out Honda, you’re next at $53.08 billion.

But the bigger news is that briefly this AM, Tesla stock broke past the $300 mark for the first time ever. A high of $300.93 was hit around 9:30 AM Eastern Daylight Time. And then again right now as we’re pushing this post live.

The recent stock surge for Tesla can likely be attributed to the automaker outperforming in its Q1 announcement and to the release of new news connected to the Tesla Model 3.

*Track the stock value in real-time here

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69 responses to "Tesla Stock Surpasses $300 For First Time Ever, Market Cap Jumps Past General Motors"

  1. Joshua Burstyn says:

    Wawawewwow

    1. mx says:

      This looks like a short squeeze.
      The daily volume has nearly doubled. And the price has jumped over the last 2 weeks. Looks like some shorts are getting out, before other shorts, causing a stampede.

      But, also the fundamentals of Tesla Energy pushing out large battery backup systems.

      And finally Wall Street seeing this as a tech company. But, you never know if Wall Street can acknowledge facts.

      Tesla and the shorts are real proof of market inefficiency. Politics in the market.

      Just like the oil attack on the solar stocks, which are real bargains, the ones that continue to report profits quarter after quarter.

  2. Ron M says:

    Well I think the Model3 will begin on time. I also think the batteries for utilities will start adding to the bottom line. I don’t think anyone expects much out of solar panels, but I think these beautiful roof solar panels will be installed on a lot of new homes with a Powerwall.

  3. randomhuman says:

    I should have bought Tesla stocks a few month ago when they were at 185 or so. Meh. Now it’s over… But it is unbelievable how high valued Tesla is. I mean Volkswagen the biggest car maker in the world is not even twice as high valued at 73 billion or so…

    1. Ocean Railroader says:

      I really feel like I should have bought some when the company first came out when it was 42 dollars a share.

      1. Bryan Whitton says:

        I got my stock at $34. I am more than a little pleased. πŸ™‚

      2. ffbj says:

        In June 29, 2010, Tesla Motors Incorporated launched its IPO on the Nasdaq exchange. It offered 13.3 million shares at a price of $17 per share, raising a total of $226.1 million.Aug 13, 2015

    2. R.S says:

      I wouldn’t really buy now, they will surely go down eventually, but I wouldn’t bet that they would ever reach sub $200 levels again.

      Last time I bough they were at around $160, I just sold some, kept most, but I will buy again, once they reach reasonable levels again.

      1. Mister G says:

        RS it won’t drop much because TSLA owns a lot of valuable data…billions of miles of digitized information. GO TESLA GO…all the haters and naysayers continue to think that Tesla is an EV manufacturer lol.

    3. Cavaron says:

      “Now it’s over…” – people said the same after Tesla hit 60$, 100$ and 200$. I’m telling you: it is not close to over even now.

      With 300$ per stock Tesla has a market cap of abou 50 billion $. Elon Musk said that Tesla could be the first trillion dollar company.

      If that becomes reality, the stock value will be twenty times 300$.

      1. randomhuman says:

        I meant it is not the best price to get in now. Maybe if it drops again I’ll get my chance…But I surely believe that Tesla can achieve more especially with the Model 3

  4. Ocean Railroader says:

    Why do I feel this reminds me of when you are going up the giant incline to the top of the Apollo roller coaster at Bush Gardens.

    1. georgeS says:

      whats the PE??

      Looks like a bubble waiting to pop.

      scary

      1. Ambulator says:

        The price/earnings ratio is, of course, negative. That makes it a less than clear metric.

  5. Tesla Inc
    NASDAQ: TSLA – Apr 4, 11:05 AM EDT
    302.95USDPrice increase4.43 (1.48%)
    Spiking up Fast!

    1. Analysts take note: “Here’s Why Tesla (TSLA) Stock Is Gaining Today”
      http://www.nasdaq.com/article/heres-why-tesla-tsla-stock-is-gaining-today-cm769128#ixzz4dIHZah5j

      Tesla Inc
      NASDAQ: TSLA – Apr 4, 11:10 AM EDT
      $303.72 USD Price increase $5.20 (1.74%)
      Almost up a buck in 5 minutes!

      1. Further Stories, A Sub Head: “A three-year base has been broken. It’s game on for TSLA stock!”

        I like these two paragraphs:
        “Stocks that are notching all-time highs are notable for numerous reasons. For starters, it means that 100% of all (long) TSLA shareholders are sitting with a profitable position. Talk about an environment where longs have little motivation to sell. Even the dumbest of dumb money is pleased as punch with their Tesla holdings right now!

        And on the flip side, 100% of speculators currently short Tesla stock are sitting with a losing position β€” one that is becoming increasingly difficult to maintain due to the daily increase in pain. Stocks perched at unseen heights give short sellers a mountain of motivation to buy to cover their positions.”

        From – http://investorplace.com/2017/04/best-way-play-tsla-inc-tsla-stock-highs/#.WOPCb9QrKHs

  6. Kdawg says:

    Did you see Elon’s tweet yesterday?

    “Stormy weather in Shortville …”

    1. Anon says:

      Yeah. πŸ™‚

    2. Pushmi-Pullyu says:

      Here’s my all-time favorite on that subject:

      Tesla envy happens when other people have, ahem, long positions and yours is too short. — Jim Whitehead

      1. TomArt says:

        That got an immediate evil laugh out of me! Love it!!

        πŸ˜€

  7. Pushmi-Pullyu says:

    “The recent stock surge for Tesla can likely be attributed to the automaker outperforming in its Q1 announcement and to the release of new news connected to the Tesla Model 3.”

    That seems doubtful to me. After all, we’ve had similar news in the past and it hasn’t driven the stock price that high.

    I am reluctant to attribute the movement of a stock that’s as volatile as TSLA to any one cause, or to suggest there’s a rational cause when much or perhaps most movements of such a volatile stock are driven by emotion and “following the herd” mentality among investors. But still, there does appear to be a rational cause at work here:

    This news comes just days after Chinese tech giant Tencent Holdings… revealed a new 5% stake in Tesla, a move which should help the Palo Alto, California-based firm raise the cash it needs to bring its new Model 3 to full production…

    Although Tencent will be a passive investor, some expect that Elon Musk will seek advice from the company on how to expand in China. Tesla has made headway in the country recently, with Chinese imports of Tesla vehicles in 2016 coming in five times higher than the year before.

    Full article here: “Here’s Why Tesla (TSLA) Stock Is Gaining Today”

    https://www.zacks.com/stock/news/255067/heres-why-tesla-tsla-stock-is-gaining-today?cid=CS-CNN-HL-255067

    1. Pushmi-Pullyu says:

      Hmmm, I see Robert Weekley posted a link to the same article, just minutes ago, so hat tip to Robert! And if I’m wrong, then at least I’m in good company. πŸ˜€

      1. P-P .. Ha Ha Ha! What is that – Misery Loves Company? Or – Great Minds Search out the Stories Fast?

  8. Clayton says:

    Squeeze time – or perhaps a short squeeze has pushed us to where we are now?

    Curious how much of the float is still short. Very painful for them.

    1. Anon says:

      Elon’s revenge is success.

    2. DangerHV says:

      I wonder if this is the start of the short squeeze. This would be fun.
      I find the market cap being higher than Ford and GM entertaining, but it has little real comparison. In my simplistic mind, It mostly just shows the excitement in Tesla. I’m not a financial guy, so no value in berating me here)

  9. Driverguy01 says:

    And news to come this week of Model Y will probably boost it up some more…
    Hang on!

    1. Doggydogworld says:

      ARS Technica updated that article, no Model Y news is expected.

  10. Get Real says:

    Yeah, where’s serial Tesla-shorter tftf right now much less zzzz, 4E, sven or even Spiegel, Wahlman, Niedermeyer and the other so-called “pros”???

    Tftf was just claiming that he “covered” 75% of his Tesla shorts in 2016–yeah right.

    Can’t wait to here to the excuses of the shills, shorters and haters on this latest development!

    1. tftf says:

      Dear friend, luckily this has been time-stamped. I covered 25% and then 50% then.

      My current position is in the 240-250 range.

      I wrote weeks ago on Twitter that I will add to my short position AGAIN if Tesla lemmings push this to $300 or beyond.

      I will add to my short position again.

      PS: The entire auto sector is in trouble in North America soon. Peak auto sales coming. First cracks in subprime lending getting better.

      1. tftf says:

        Here’s my time-stamped tweet:

        https://twitter.com/talesftf/status/831173562249707520

        “Keep your powder dry”, as in wait for lemmings to push this to $300+, then add or enter a short position calmly.

        1. ffbj says:

          It’s not only lemmings that are pushing the stock higher. It’s a short squeeze obviously.

          1. Pushmi-Pullyu says:

            tftf is putting on a brave face here, but I guarantee he’s not a happy short-seller! Every Tesla fan should pause a moment and shed a crocodile tear or two for the TSLA shorters. Can you say “bleeding money”?

            Since I’m neither a “financial guy” nor a stock investor, I don’t have a detailed understanding of happens during a “short squeeze” or what “covering a short position” means, but for those interested, this article at least explains the basics:

            http://www.investopedia.com/ask/answers/050715/what-difference-between-short-squeeze-and-short-covering.asp

            1. Nix says:

              In simple terms, it is basically the same as saying he lost $10K at the poker tables. But it will all be fine, because he’s got another $10K buy-in…..

      2. ffbj says:

        Yeah, well. It is probably a bit high.

        I find your comment about peak auto amusing. I called peak auto months ago, as did many, and it is for some companies.
        I suppose you don’t view Tesla as the coming thing, which it is.
        It has arrived to eclipse the legacy makers, and is doing just that in valuation. It also eclipses them in making superior vehicles.

  11. floydboy says:

    ‘Shorts’ from the 1970s? Is THAT why they’re so tight?

  12. floydboy says:

    I think it’ll tamp down a bit over the next few days, but man that valuation! Wowzers!

    1. ffbj says:

      It’s a short squeeze, and they are hoping you are right too.

  13. bro1999 says:

    I own exactly 1 TSLA share.
    Waiting for people to call me a shorter. Lol

    Bought it @175 a couple of years ago.

    1. (βŒβ– _β– ) Trollnonymous says:

      lol…..Youdda MAN!!!!
      πŸ˜›

  14. Brian says:

    Reminds me of the high tech hype in 2000.

    Shortly followed by investors demanding realistic PE ratios. Stumble, stumble, face plant. Many of those companies are still doing OK, but their stock isn’t.

    Enjoy the dream while it lasts πŸ˜‰

    1. Brian says:

      Have a look at Cisco as an example. solid company, $50B in revenue, stock is less than have of the yr 2000 dream level.

    2. ffbj says:

      Hardly a valid comparison.

  15. leafowner says:

    I like Tesla but this is too far too soon.

  16. Assaf says:

    Dang it, I knew I should have exploited the relative lull in TSLA last winter to buy some.

    Oh well, I was never good at investments. At least this way I mostly avoid crashes.

    1. Mister G says:

      It’s one of my regrets…not buying TSLA shares when it was at $43..not the end of the world lol

  17. Ken L. says:

    “but NOT Ford is so far”?

  18. pjwood1 says:

    Time to sell, at least enough for the celebratory beer money.

    1. William says:

      Taking some profits now, for some beer money, would be a good call. Then buying some more shares later, after the short squeeze subsides, and you sober up a little. An all Tesla charged pub crawl is on order!

  19. Jonathan B says:

    I’ve said it before and I’ll say it again, I wish nothing but the best for Tesla and I hope that this valuation will at some point make sense for them. I have a model 3 on order and will probably buy a powerwall at some point in the future. That being said, there’s no way I would invest in this company right now. Their stock is way way too high and their valuation is exceedingly high on nearly any measure. The fact that they were within 4% of GMs market Cap is pure insanity. GM sold 131x the cars that they did in 2016. Yes you read that right! And for those of you who say that Tesla has a leg up in the EV market, that’s not even very true of GM. The Volt and Bolt are great cars and they are selling a lot of EVs as an organization. They also have the means to manufacture them much more quickly than Tesla can. They also make a profit and have a lot more cash.

    Sure, Tesla has a bigger vision. They aren’t just a car company. They are much much more (or at least they plan to be) but they’ve only made a profit in 2 quarters of the 10+ years they’ve been in business, and they have a lot of hurdles to overcome just in their car manufacturing future, let alone in their other industries. I think they will succeed and I think in about 5 years, we’ll probably see them as a much more profitable and stable company, but this doesn’t mean that there’s not a lot of risk there, because there is, and there’s way more than GM or Ford, or Nissan, or even VW.

    Stepping back and putting my desire for their success aside, I’m not confident that I’d short TSLA, but if I had three options to invest $100K, the first being in TSLA alone, the second being in a TSLA short, and the last being in a four-way split between GM, Ford, Nissan, & VW, I’d take the last option any day of the week! I see much more upside in those four companies benefiting and capitalizing on an EV revolution in the next several years than I see Tesla doing so.

    I wish you the best Elon, but I’ll stay away from your stock.

    1. vik says:

      I’d stay away from all stocks right now. How in the world are most stocks at 52-week high’s, clearly some companies do better than others and the stocks should reflect as such. Even Sears has doubled in value from January which makes no sense. Tesla for what its earnings are is not worth 51 billion dollars, plus it doesn’t have that much in assets, so that would lead one to believe that 75% of the company’s worth is just its brand or this is one big bubble forming everywhere.

      1. Jonathan B says:

        Sears is trending up because people are hopeful that a collapse of the company or acquisition of the underlying brands and real estate is worth more than people think. Still a stupid stock to own IMO though. The markets are at scary highs right now, which is what makes TSLA all the more crazy to own. You’re compounding the risk of owning such a volatile brand against an already volatile market. Investing today should be all about mitigating risk for a downturn and owning companies that can weather the storm.

        1. vik says:

          I’ve got a sturdy mattress that can weather storms and I’m putting all of my money under it in the form of twinkies

    2. Pushmi-Pullyu says:

      “…there’s no way I would invest in this company right now. Their stock is way way too high and their valuation is exceedingly high on nearly any measure.”

      That’s certainly the rational position. Rationally, the stock will soon peak if it hasn’t already, and will come back down. So this would likely be the worst time to make a normal (“long”) investment in TSLA. Contrariwise, it would be a good time to make a new short investment… so long as you realize that short investments should be short-term only.

      I really don’t understand the strategy, if there is one, of those like tftf, Mark B. Spiegelman, and Edward Niedermeyer, who treat “shorting” TSLA stock as a long-term investment. Surely they lose far more than they earn by doing that? From here that looks like insanity, as in “One definition of insanity is doing the same thing over and over and expecting different results.”

      DISCLAIMER: Nobody should make an investment based on the “advice” given in an anonymous online comment. That goes double for someone who, like me, is neither an investor nor a “financial guy”.

  20. Jim_NE says:

    “The fact that they were within 4% of GMs market Cap is pure insanity. GM sold 131x the cars that they did in 2016.”

    Agreed, it does seem insane. Also, guess which company has sold more plug-in vehicles in the U.S.? Nope, not Tesla. It’s GM. By my count GM sold 132,928 Volts/Bolts/Spark EVs, vs. 123,875 Tesla Roadsters/S/X.

    I am long both GM and TSLA, but only have 58 shares of TSLA left, vs. a lot more GM (which is almost a bond play for me – with a 5% dividend based on my purchase price). But the valuation on each company (GM and TSLA) seems insane, but completely opposite.

    1. Anon says:

      It WOULD be insane– if Tesla only made ONE THING; Automobiles.

      But they do not make just ONE thing…

      Tesla today, is a growing conglomerate, focusing design and technologies on solving energy generation, storage, and utilization issues in a low carbon, high efficiency context.

      Cars are just a VERY small slice of what they do. Model 3, is a raindrop in a bucket waiting to be filled.

      1. Jonathan B says:

        I don’t think that anyone is arguing with you that they “will be” more than a car company, but they AREN’T right now. Solar City is struggling to be profitably, they are hardly selling anything when it comes to energy storage, their roof tiles aren’t even in production yet, and the have serious production concerns with Model 3 targets. If you are long and I mean very long on TSLA, I get it, but it still is a risky investment with almost all of the hype for the next several years baked into the price. From an investment standpoint, it is a big big risk.

        1. Mister G says:

          Jonathan,Tesla is a unique company that cannot be compared to any other ICE manufacturer. We are witnessing the birth and growth of a transformational business. Enjoy the ride.

    2. Nix says:

      Technically, GM has never “sold” a single EV to any consumer. GM only wholesales cars to dealerships.

      So GM has to split their profits with all of their dealerships. GM’s stock price doesn’t include any of the dealership profits. But when Tesla sells a car, they actually sell it to a consumer. It is all included in TSLA share prices.

  21. Anon says:

    Bark Bark! Who’s a good attack dog?!?!? Eat that, Bob Lutz! Some old dogs just never learn…

    πŸ˜€

    1. ffbj says:

      Salty Bob:

      Salty Bob

  22. Bob Nan says:

    Sweet news.

    Until 1990’s GM & Ford are the World’s Top-2 companies in revenue with the 3rd, 4th & 5th companies far behind and VW & Toyota not in Top-5.

    Fast forward 2 decades, an unknown company called Tesla beat both the companies at least in market cap in a span of just few days.

    Still a long way to catch up in revenue, but can do so in profit.

  23. Mister G says:

    You can’t compare GM and Tesla, GM is old dirty transportation and Tesla is clean innovative transportation, energy storage, energy production, energy transmission (charging network) and in the near future driverless taxi company and insurance company.

    1. Jonathan B. says:

      Funny cause GM has sold more electric vehicles than Tesla has to date, so I guess you kind of can compare the two.

      1. Mister G says:

        Volts are not all electric and if you believe they are I have some Florida swamp land that is for sale at a great price…interested?

        1. Jonathan B says:

          You never said that we were comparing purely electric vehicles. GM has sold more cars capable of purely electric transportation. Fact! I’m not saying that GM is anywhere near as innovative in this realm as Tesla, but if you want to compare solely their car business, which to date is the bulk of Tesla’s business, GM has sold more.

          1. Mister G says:

            Jonathan it’s all about the data…Tesla has billions of miles of digitized real world road data which equals $$$$. Why do you tencent spent $1.8 billion on TSLA?

  24. Jim Seko says:

    Elon Musk is a mad scientist!