Tesla Is Worth More Than GM Again After Big Earnings Jump

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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 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.

https://www.barrons.com/articles/tesla-stock-soars-as-earnings-blow-through-estimates-51571866012 https://ir.tesla.com/static-files/47313d21-3cac-4f69-9497-d161bce15da4 https://www.barrons.com/articles/ford-cuts-guidance-again-earnings-51571865351 https://www.barrons.com/articles/tesla-stock-falls-after-hours-following-its-third-quarter-deliveries-report-51570048586 https://www.barrons.com/articles/tesla-stock-gains-for-eighth-day-after-market-overreacts-to-deliveries-51571248207 mailto:Ben.Levisohn@barrons.com Tesla Stock Is Worth More Than GM Again By Ben Levisohn Photograph by Spencer Platt/Getty Images Tesla

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.