Tesla’s market capitalization is now higher than Ford’s.
Tesla is trading up on the day, sending its market cap to $47.46B. And then there’s Ford, the blue chip automaker that’s exactly 100 years older than Tesla, which is trading down on the day, causing its market cap to dip to $44.89B. General Motors’ market cap is only a stone’s throw away at $51B.
This fluctuation in valuation comes on the back of Tesla reporting good news and Ford reporting bad news. Tesla saw vehicle production and deliveries rise during the first quarter of the year at a pace that beat analysts expectations. Meanwhile, Ford is recalling some of its F-150 pickup trucks and its U.S monthly sales fell 7% during last month.
Tesla’s stock has been steadily gaining value since the latter weeks of 2016. It’s now trading at an all-time high of $291.54, up from $181 in the early days of December 2016.