Tesla’s market value has just eclipsed that of General Motors and Ford combined but it is still a long way off beating Bitcoin.
Tesla Teases $90 Billion Market Cap
For the first time, the stock market value of Silicon Valley electric car manufacturer, Tesla, has surpassed the combined capitalizations of its two rivals.
Company stock jumped almost 5% on Wednesday, closing at a record $492.14 per share and lifting its market cap to almost $89 billion according to Reuters.
This is larger than the sum of General Motors at almost $50 billion and Ford at almost $37 billion combined.
Tesla stock has almost doubled in three months fueled by surprise third-quarter profit, higher than expected car deliveries in the fourth quarter, and progress at a new factory in China, the report added.
Chief investment strategist at MainStay Capital Management, David Kudla, cautioned;
But there are still some problematic issues out there, chief among them is what will its sustained profitability look like, and when will it start to be valued like a car company and not a tech company.
Bitcoin Taps $150 Billion
Comparatively, Bitcoin market capitalization has grown 17% this year alone as it topped $150 billion for the first time in seven weeks.
Today the world’s largest digital asset has corrected following a geopolitical driven surge over the past week. BTC market cap at the moment is around $145 billion, $57 billion higher than Tesla.
Tesla market cap will only surpass Bitcoin if the asset plunges to its crypto winter lows again below $4k. This time last year bitcoin market cap was around $65 billion – around half of what it is now.
According to Statista, Bitcoin is on a par with McDonalds and energy giants Total and BP, in terms of market cap. It is just above Bank of China and BHP Billiton. Tesla has yet to make the top one hundred list. According to Visual Capitalist, the global top five companies by market capitalization are all US tech giants with a combined cap of over $4 trillion.
Recent events have shown how quickly bitcoin market cap can expand. This year alone it has grown by $15 billion, and that is accounting for today’s price correction back to $8k.
During its 2019 peak, bitcoin market cap topped out above $230 billion and at all time high just over two years ago it was worth a staggering $335 billion. This is almost as large as Visa’s market cap in 2019.
Bitcoin has a long way to go before it reaches those heady heights again, but if geopolitical and economic tensions keep escalating it could get there sooner rather than later.
When will BTC market cap reach $200 billion again? Add your comments below.
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Coinspeaker Tesla Outgrows Ford’s Record, Going to the TopTesla stock climbed as much as 6% on Wednesday, boosting the company’s market value to more than $88 billion, which is more than Ford Motor Co.
Most of the concerns around Tesla from analysts last year were centered around whether the company can compete against traditional automakers in the same market.
The post Since JPMorgan’s Tesla Sell Signal in 2018, TSLA Stock Is Up by a Staggering 48.9% appeared first on CCN.com
Elon Musk has until 2028 to achieve market cap and operational targets. But as 2020 approaches, the Tesla CEO looks way ahead of schedule.
The post Elon Musk’s $1 Billion Tesla Stock Payday Might Arrive Sooner Than Anyone Thought appeared first on CCN.com
ARK Invest believes Tesla can capture 17% market share in the automobile…
The post Tesla Bull Makes Ludicrous Prediction That’ll Barely Scare Big Auto appeared first on CCN.com
Tesla co-founder and CEO Elon Musk enters the pickup truck market in typically bombastic style.
The post This Chart Shows Why Tesla Is Destroying Traditional Car Companies appeared first on CCN.com
BMW has struck a couple of deals as it steps on the gas in the EV market, and that's bad news for Tesla, Elon Musk, and the stock.
The post Tesla Stockholders Tremble as BMW Reveals Grand Plan to Dominate Electric Vehicles appeared first on CCN.com
Coinspeaker Elon Musk Announces Berlin as Location for Tesla’s European GigafactoryTesla’s earlier announced gigafactory for the European market has now been revealed by Elon Musk to be in Berlin.
Our robot colleague Satoshi Nakaboto writes about Bitcoin every fucking day. Welcome to another edition of Bitcoin Today, where I, Satoshi Nakaboto, tell you what’s been going on with Bitcoin in the past 24 hours.
The stock market took a substantial step forward on Wednesday, bringing the Dow, S&P 500, and Nasdaq all closer to their all-time highs. Here are ten individual stocks headlining the market’s upward swing.
Our robot colleague Satoshi Nakaboto writes about Bitcoin every fucking day. Welcome to another edition of Bitcoin Today, where I, Satoshi Nakaboto, tell you what’s been going on with Bitcoin in the past 24 hours.
Amazon stock's market value fell by a whopping $28 billion in Monday’s stock market slaughter. Since July 18, when Amazon reported its quarterly earnings, it’s market value has declined by $103 billion.
Don’t look now, but Tesla is having a good day. While much of the broader stock market traded under pressure, Tesla managed to eke out some gains in the final session of the week. It wasn’t by much, as TSLA was only up a fraction of a percent, but considering that most other stocks in […]
The post Tesla Muscles Its Way into the Nasdaq’s Top Stocks appeared first on CCN Markets
Don't look now, but Tesla is having a good day. While much of the broader stock market traded under pressure, Tesla managed to eke out some gains in the final session of the week. It wasn't by much, as TSLA was only up a fraction of a percent, but considering that most other stocks in […]
The post Tesla Muscles Its Way into the Nasdaq's Top Stocks appeared first on CCN Markets
By CCN Markets: Skepticism was the response on Monday as news spread that Elon Musk had deleted his Twitter account. Just deleted my Twitter account — Elon Musk (@elonmusk) June 17, 2019 The problem is the account of the Tesla and SpaceX CEO still appeared active some 18 hours later.
By CCN Markets: Despite the performance of Tesla’s stock this year, there’s no shortage of TSLA bulls. Even though the stock has lost around 25% of its market cap year-to-date, Alexander Haissl of Berenberg told CNBC he is looking for a price target of $500.
By CCN Markets: Tesla has given investors a torrid time on the stock market so far this year. Shares of the Elon Musk-led company have crashed close to 37% so far in 2019 even though the billionaire CEO has been trying hard to pump the stock through his wild claims.
By CCN: Bitcoin might be uncorrelated to the stock market, but searches for the top cryptocurrency are highly correlated with that of Kim Kardashian. ConsenSys points out the similarities in a recent blog post in which it compares the popularity of the biggest cryptocurrency with pop culture, politics, and corporate America.
By CCN: As markets close Friday, Elon Musk’s aerospace venture SpaceX is poised to eclipse his car company Tesla in market value for the first time. Tesla’s stock is trading down 1. 5% at press time with a $33.
By CCN: Tesla CEO Elon Musk unintentionally provided the stock market with some laughs Thursday, reportedly issuing a letter to employees demanding that the electric vehicle maker deliver cars faster.
By CCN: Tesla’s Chinese subsidiary has announced an event planned for Friday sparking speculation on what the electric car maker is up to in the world’s biggest auto market. The teaser was published on China’s social media platform Weibo and the event is set for Friday.
By CCN: Tesla’s stock is getting clobbered daily now that Wall Street has lost confidence in the ability of Elon Musk’s company to increase sales. But there’s one bull that’s swimming against the current, claiming that the market has got Tesla all wrong.
By CCN: Tesla is getting hammered day after day on the stock market, leaving Elon Musk with no option but to adopt desperate measures to save his beloved electric car company. But Wall Street is not convinced, as one more analyst firm has joined the chorus against Elon Musk and slashed its Tesla stock price target.
By CCN: A new report out of ARK Invest is wildly bullish on self-driving technology powered by the likes of Tesla and Uber. But the autonomous revolution will come at a huge cost for Warren Buffett’s biggest business: insurance.
By CCN: Billionaire Elon Musk was amused when a porn star revealed that the Tesla on Autopilot mode can be used to enjoy “hands-free” car sex. Elon Musk: ‘I shoulda seen it coming’ The Tesla CEO wryly tweeted that he “shoulda seen it coming.
By CCN: Elon Musk groupies might fantasize about owning robo-taxis that yield a fortune in passive income while they stay home and play video games, but one stock market analyst warns that the “Tesla dream” risks transforming into a bitter nightmare.
By CCN: Billionaire Elon Musk is in the middle of raising $2. 7 billion in fresh capital from the market through a series of stock offerings. So now would be a very bad time for someone at the company to pop out of Tesla and say something that’s not to Musk’s liking.
Elon Musk, the CEO of Tesla has gotten “crypto Twitter” abuzz, this time, tweeting about Ethereum, the second-ranked cryptocurrency according to market capitalization. Ethereum co-founder Vitalik Buterin took advantage of the situation to educate the tech billionaire on the useful applications that can be built on the emerging technology.
Elon Musk, the face of Tesla and SpaceX, has always been a prominent figure in the cryptocurrency space. The founder of The Boring Company has publicly expressed his opinions on Bitcoin [BTC] and other cryptocurrencies in the market on several occasions.
By CCN: On the heels of a rather disappointing Tesla earnings call, Chinese electric car maker BYD Auto reported a stunning 632 percent increase in Q1 net profit. The company, backed by Warren Buffet, saw profits jump from 102.
By CCN: Relatively unknown stock Tiziana Life Sciences (TLSA), not to be confused with Tesla (TSLA,) rocketed more than 50% today to blow the rest of the stock market out of the water. Starting the day at slightly more than $6.
Wednesday’s earnings report was a bust for Tesla. The company reported a huge loss of $702 million and missed revenue expectations. In the conference call that followed, forlorn Tesla boss Elon Musk mused about taking Tesla private again: “I would prefer we were private, but unfortunately I think the ship, that ship, has sailed.
By CCN: Tesla stock endured another major blow on Wednesday after US auto giant Ford piled $500 million into electric truck manufacturer Rivian, which had already secured a major investment from Amazon.
By CCN: Tesla CEO Elon Musk has made a couple of tall claims that are sure to excite the fanboys. In an interview with MIT researcher Lex Fridman, Musk claimed that Tesla is less than two years away from bringing a fully autonomous vehicle to market.
The price of Dogecoin—like the rest of the cryptocurrency market—skyrocketed Apr. 1 and has continued to rally since. In the midst of the rally, Elon Musk, founder and CEO of SpaceX and Tesla mentioned the meme cryptocurrency in a couple of tweets on Apr.
Dogecoin supporters had a pleasant surprise last night when Elon Musk tweeted that Dogecoin was his “fav cryptocurrency. ” The Tesla and SpaceX CEO even became Dogecoin’s (honorary) CEO for a few hours.
Dogecoin supporters had a pleasant surprise last night when Elon Musk tweeted that Dogecoin was his “fav cryptocurrency. ” The Tesla and SpaceX CEO even became Dogecoin’s (honorary) CEO for a few hours.
By CCN. com: Following the fiasco with the Tesla drawing, Justin Sun’s Tron Foundation has issued a statement on the Japanese market. The Japanese government has yet to finalize its ICO regulations, but the most recent news on that front is the issuance of guidelines by a local blockchain business association.
Justin Sun, the controversial marketing genius and Founder and CEO of Tron (TRX), the 11th-largest cryptocurrency by market cap,…
The post TRON Justin Sun Refuses To Give Tesla to the Winner of His Contest – Community Turns Its Back on TRON appeared first on Invest In Blockchain.
Justin Sun, Founder and CEO of the 11th largest market cap coin TRON, has faced huge criticism for a botched competition, which saw the winner of a brand new Tesla car publicly announced and then swiftly revoked, leaving confusion for the winner, and many accusing Sun of running a scam.
Tesla’s Model Y reveal, led to a mostly unimpressed audience and unenthused investors. Does the largely hype-less response show a market well-addressed or indicate declining interest? A definite sign in shareholder interest is the TSLA share price decline following the announcement.
At its launch event today, Tesla unveiled its highly anticipated Model Y compact SUV, with plans to bring it to market by next fall. The company’s fifth car will be available in four configurations, and will seat seven passengers with an optional third row.
Among most famous and well-respected names in the crypto-industry, founder of the 10th largest coin by market capitalization TRON (TRX) – Justin Sun just recently announced one of the most welcomed giveaways in the community:.
TRON founder Justin Sun announced that he is planning to do a $20 million free cash airdrop, in addition to a giveaway of one Tesla vehicle, to a random winner. $20M Cash Airdrop from Justin Sun Justin Sun, the founder of TRON (TRX) — the world’s 10th largest cryptocurrency by means of market capitalization — has announced his plans to do a $20 million free cash airdrop.
Last week, Tesla CEO Elon Musk slashed the price of the Model 3 to $35,000 as a part of a larger strategy to compete against conventional car makers and increase profitability. In a letter sent to employees, Musk disclosed that the company generated its first profit in the third quarter of last year and will prioritize financial stability in the years ahead.
Following the recent unveiling of the $35,000 Tesla Model 3 variant, followed by an announcement revealing March 14 as the launch date for the Model Y, there are fears that Tesla is launching both vehicles back-to-back in response to slowing customer demand.
Although Bitcoin has been caught in a persisting bear market for well over a year, multiple major tech gurus and visionaries from some of the largest companies in the world – including Apple, Tesla, and Twitter – have lauded the cryptocurrency in recent times, signaling that Bitcoin and crypto in general may soon become the focus.
CoinSpeaker
Tesla (TSLA) Stock Plunges as SEC Declares War Against Elon Musk
The renewed feud between Elon Musk and the U. S. financial authorities negatively affects Tesla stock that saw a 5% decrease at market trading.
CoinSpeaker
Market Review: Latest on Amazon (AMZN), Apple (AAPL), and Tesla (TSLA) Stocks
Encouraging signs on the U. S. /China trade talks sent stock prices sharply higher pushing the Dow index up.
The success of Metaverse will rely on a greater focus on maximizing the human experience aimed at delivering positive experiences for consumers, end-users, and citizens.
Digital currency market prices have been dropping during the last few days as the crypto economy now rests at $1. 53 trillion in value. Crypto trade volumes have increased a hair on Sunday, and a few crypto assets have seen decent percentage gains over the course of the last seven days.
During the last decade, cryptocurrency users have leveraged a number of coin market capitalization aggregators, in order to check in on a crypto asset’s price and the project’s overall market valuation.
Ethereum-issued tokens, such as the ERC20 and ERC140 standard, are now worth more than the protocol’s ETH currency. For analysts, this signals a period of undervaluation for the network that made it all possible.
In the early stages of trade, when economizing individuals are only slowly awakening to knowledge of the economic gains that can be derived from exploitation of existing exchange opportunities, their attention is, in keeping with the simplicity of all cultural beginnings, directed only to the most obvious of these opportunities.
On May 7, 2020, the price of a single bitcoin crossed $10,000 per unit in USD value as the network only has four days until the halving, otherwise known as the “quantitative hardening” by some investors.
