Stocks

Tesla Is Worth More Than GM Again After Big Earnings Jump

Tesla stock has jumped 18% to $300.32 after the company turned a surprise profit. With 179 million shares outstanding, that leaves Tesla with a market cap of nearly $54 billion. GM is worth just over $52 billion.

Tesla stock has jumped 18% to $300.32 after the company turned a surprise profit. With 179 million shares outstanding, that leaves Tesla with a market cap of nearly $54 billion. GM is worth just over $52 billion.

Tesla’s blockbuster earnings—and the big gain that’s followed—has made the stock in Elon Musk’s company worth more than General Motors again.

Tesla stock (ticker: TSLA) has jumped 18% to $300.32 after the company turned a surprise profit. With 179 million shares outstanding, that leaves Tesla with a market cap of nearly $54 billion. At Wednesday’s closing price of $254.68, Tesla was worth just under $46 billion.

General Motors stock (GM) has dropped 0.4% to $36.45 in after-hours trading—blame Ford Motor (F), which cut its earnings guidance. At that price, GM is worth just over $52 billion. Ford is worth nearly $36 billion after dropping 2.6% to $8.97 in after-hours trading.

It’s quite a turn for Tesla, which just a few weeks ago was getting pounded for missing delivery estimates. A nine-day winning streak and now a surprise profit have turned things around very, very fast.

Dare we say ludicrously fast?

Write to Ben Levisohn at Ben.Levisohn@barrons.com

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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