SAN FRANCISCO - For the first time, Tesla's stock market value has eclipsed the combined values of General Motors and Ford.
"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."But there are still some problematic issues out there, chief among them is what will its sustained profitability look like, and when will it start to be valued like a car company and not a tech company.
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. German automakers Volkswagen, Daimler and BMW all have promised to launch fully electric premium models. GM's Cadillac luxury brand is gearing up to launch a series of electric SUVs and cars, while Ford's Mustang Mach-E electric SUV, unveiled in November, will launch later this year and could compete with Tesla's Model X or soon-to-launch Model Y SUVs. Ford, GM and other manufacturers have electric pickups in the works to take on Musk's futuristic Cybertruck.
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