In the past two days, Tesla surpassed both Ford and GM’s market cap, making it now the most valuable U.S. automaker on the stock market. As of market close on April 4th, 2017, GM sits at a $49.61 billion USD market cap, Ford has a $45.19 billion market cap and Tesla has a $53.07 billion market cap.
Tesla’s stock has been on an upward trajectory after the company’s recent first quarter report showed that both car production and car deliveries were up during the first quarter of 2017. GM and Ford’s less rosy first quarter results for vehicles sales also contributed to the change in rank.
Additionally, the stock price for Tesla reflects positive expectations for the launch of its electric Model 3 (shown above), which has received strong interest, racking up around 373,000 pre-orders by May 2016.
The company expects to begin delivering the Model 3 as early as the end of 2017.