Tesla speeds past Ford in stock market cap

When it comes to market value, Tesla now has Ford Motor in its rearview mirror.

The electronic car maker run by Elon Musk is now the No. 2 auto maker in the U.S. based on market capitalization, passing Ford but still behind frontrunner General Motor.

As of Monday afternoon, Tesla (TSLA) boasted a market cap of $48.7 billion, ahead of Ford's (F) $45.3 billion. GM (GM) is the top auto maker in the U.S. with a market cap near $51 billion.

Shares of Tesla surged 7% Monday after setting a quarterly record by delivering 25,000 vehicles during the first quarter. The deliveries were up 69% compared to a year ago.

Last week, Chinese tech giant Tencent Holdings confirmed it acquired a 5% stake in Tesla.

© 2017 WTLV-TV


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