Monday, May 13, 2013

Stunning Fact: Tesla's Market Cap Hits $9 Billion As Market Prices Tesla As Revolutionary Technology

Here is more bad news for Rush Limbaugh and the Wall Street Journal's editorial page who hate electric vehicles. Stock investors are falling head over heels in love with Tesla.

After reporting a quarterly profit last week, Tesla's stock price surged another 20% on Thursday and its market value hit a gaudy $9 billion.  Not too bad for a company that sold about 5,000 cars in 3 months.

As CNBC notes, the second largest auto manufacturer in the world--General Motors--has a market capitalization of $43 billion.  By contrast to the millions of cars that GM sells, Tesla expects to sell  approximately 21,000 vehicles  this year around the world.

Stock investors are judging, valuing Tesla as a revolutionary technology company--the first to make a profitable electric vehicle with extended range. Perhaps, today's market judgment will change, but Elon Musk, the founder of Tesla, is fast becoming the most important businessman in the world.

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