REUTERS: Tesla Inc shares surged on Wednesday, and the company became the first publicly listed U.S. automaker to cross US$100 billion in market valuation, more than Ford Motor Co and General Motors Co combined.
"The skeptics have been proven wrong, and the US$100 billion market cap is sending the bears into hibernation mode." Musk tweeted he had"funding secured" to take the company private in August 2018, when its shares were trading in the mid-US$330s, only to later give up under investor pressure and regulatory concerns."The liquidity concern for now is off the table, and that opens up the ... base to new investors," said Ben Kallo, senior research analyst at Robert W. Baird & Co., which on Jan. 9 downgraded its rating on the stock to neutral.
Tesla's market value also puts Musk a step closer to earning the first US$346 million tranche of options in a record-breaking pay package.
....leaving all those German cars behind as old and all those American cars behind as the crap that they are....
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: The Straits Times - 🏆 8. / 63 Read more »