Tesla Becomes Most Valuable US Automaker | NBC Bay Area
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Tesla Becomes Most Valuable US Automaker

The electric car company sold about 76,000 vehicles last year, a fraction of the 10 million sold the same year by GM

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    NEWSLETTERS

    Tesla is making more than electric cars and batteries -- it's making history. Scott Budman reports.

    (Published Monday, April 3, 2017)

    Tesla overtook General Motors during trading Monday to become the most valuable automaker in the United States, CNBC reported.

    The electric car company sold about 76,000 vehicles last year, a fraction of the 10 million sold the same year by GM.

    But Tesla's market capitalization, which is calculated by multiplying the total number of shares by the present stock price, hit about $51 billion, Bloomberg reported. That was about $1.7 billion more than GM, as of 9:35 a.m. ET.

    PiperJaffray analyst Alexander Potter said in a note that Tesla has a "captivating impact on consumers and shareholders alike" that will be difficult for competitors to replicate.

    Man Visits Disneyland 2,000 Times In a Row

    [NATL] Man Visits Disneyland 2,000 Times In a Row

    A Huntington Beach man has set a record for most consecutive visits to Disneyland. Jeff Reitz, 44, has visited the park 2,000 times in a row. Reitz started visiting the park every day when he was unemployed and wanted to keep his spirits up. Employed at the VA now, Reitz continues to visit every day after work because it helps him to decompress after a long day. His favorite ride is the Matterhorn Bobsleds, which he first rode with his mom when he was 2 years old. 

    (Published 3 hours ago)

    Tesla shares rose more than 3 percent to reach a fresh all-time high of $313.73 in midafternoon trading Monday, after receiving the highest price forecast ever issued for the stock by an analyst at a major firm.

    The stock closed up over 3 percent at $312.39 per share.