Tesla Valued at $100 Billion

Tesla - depositphotos

CBJ — Tesla shares have surged to become the first publicly listed U.S. automaker to surpass $100 billion in market valuation, which is more than GM and Ford combined.

Shares of the electric automaker are nearing $600, which is about double what they were just several months ago.

The recent rally in Tesla’s shares was fueled by a rare quarterly profit in October, thanks largely to word that Chinese operations are going to expand.

The increase in shares could result in a boon for CEO Elon Musk, who stands to earn a significant increase in his compensation including the ability to acquire more stock.

@CanBizJournal

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