Tesla's market value hits record, passes FordApril 4, 2017 - 13:50 AMT PanARMENIAN.Net - Ford is currently valued at about $45.1 billion. Tesla is now worth $47.8 billion, Engadget reports citing Bloomberg. Last year, Tesla delivered less than 80,000 cars. Ford, America's second largest automaker, sold 6.7 million vehicles. Tesla's stock was up over five percent after reporting it has delivered 25,000 vehicles (nearly half of which were the Model X) in the first quarter of 2017. Investors take it as a sign that Tesla can back up its goals for growth ahead of the launch of the Model 3. Tencent's investment in the electric car startup helped boost its price, too. Of course, Tesla CEO Elon Musk took to Twitter to poke a little fun at those who paint a dark picture Tesla's future. Ford has been making cars for over 100 years, and its value is the product of tangible results. For some, like AutoPacific analyst Dave Sullivan, Tesla's overtaking of Ford "does not compute," as he tells Bloomberg. "It's mind-boggling that a company that has the global breadth and depth that Ford has is suddenly valued at less than or equal to Tesla," Sullivan said. Tesla's potential potential for growth is built into the stock price. Elon Musk says Tesla could produce up to 500,000 vehicles a year in 2018, after the launch of the Model 3. Whether or not that will actually happen is totally unclear, Engadget said. Tesla, though, is a brand people are excited and optimistic about, investors included, and good news creates market action. The fact that Tesla and Ford are similarly valued only highlights their differences, and the ability of a buzz-worthy brand to convince people to invest their money in a hypothetical future. Related links: Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24 PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. Cyprus parliament honors Armenian genocide victims Acting House President Zacharias Koulias noted that April 24 marks the “black anniversary” of the Armenian genocide. Armenia PM, France envoy discuss regional matters Issues related to the consistent development of Armenia-France cooperation were discussed. |