Tuesday, April 11, 2017

Tesla surpasses GM and becomes automaker with the highest market value in the U.S.

SAN FRANCISCO-for the first time in the modern era of the automotive industry, the most valuable automaker of the United States will not be based in Detroit.
Straight from Silicon Valley, Tesla surpassed General Motors as the American manufacturer with the highest market value, at a time when the industry becomes increasingly dependent on software and energy technologies.
This milestone will be in the thoughts of the President of Tesla, Elon Musk, and the President of GM, Mary Barra, who visit on Tuesday along with other executives to the White House to discuss tax reform and infrastructure with Donald Trump.
On Monday, Tesla''s stock jumped 3,26%, reaching maximum record $312.39, which gave the company the market value of 50.887 billion, almost 1 million dollars higher than that of GM.
Last month, the electric car automaker jumped 35%, with investors betting that Musk will revolutionize the automotive and energy industries.
On the other hand, shares of GM have had weak performance in recent years, which even led the billionaire investor David Einhorn to propose dividing the action into two classes to help sustain your price.
DCI - 11/04/2017
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