Tesla (TSLA) stock hits $500 for the first time


Tesla Inc CEO Elon Musk takes off his coat onstage during a delivery event for Tesla China-made Model 3 cars in Shanghai, China January 7, 2020.

Aly Song | Reuters

Tesla stock continued to rally on Monday, rising 5% and passing $500 per share for the first time.

That puts Tesla at a fresh all-time high as it continues to soar on its entrance into China and optimistic delivery figures. The stock has more than doubled over the past three months, according to FactSet.

The recent gains bring Tesla’s market cap to about $90 billion, which is nearly $5 billion more than that of General Motors and Ford combined. The companies’ market caps, which measures the value of their outstanding equity, don’t tell the full story, though.

Taking into account equity, debt and cash, the Detroit automakers have significantly higher total valuations. Ford would be worth the most with a total enterprise value of $154 billion, followed by GM at $132 billion, according to data compiled by FactSet.

Tesla stock has been on a tear this quarter after announcing surprise profits in its third-quarter earnings report in October of last year. Back then, the stock was just over $250 per share.

Source : CNBC