The Silicon Valley electric car maker's stock rose about 4per centat midday on Wednesday, hitting a record high and elevating its market capitalization to US$88 billion. That is US$2 billion larger than General Motors' and Ford's respective stock market values of US$49 billion and US$37 billion, combined.
While Tesla's recent progress has cheered supporters, many analysts and investors remain pessimistic about the company's ability to consistently deliver profit and cash flow. More analysts rate Tesla"sell" than"buy," which is extremely unusual for companies on Wall Street. Eleven analysts recommend buying Tesla shares, while 13 recommend selling and another nine are neutral, according to Refinitiv data.
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