Tesla's market value zooms past that of GM and Ford combined

SAN FRANCISCO, California -

“It’s clear that Tesla is back to being a story stock and there’s a lot of good news out there,” said David Kudla, chief investment strategist at MainStay Capital Management. Underscoring investors’ confidence in Musk and his company’s future growth, its market capitalization has outpaced its US rivals, even as their businesses dwarf Tesla’s.

The company has repeatedly missed targets in recent years and Musk’s mercurial behavior has come under close scrutiny from financial regulators and shareholders of Tesla.

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