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February 5, 2020

Tesla stock is soaring. Madness or visionary investing?

  • The company is now worth five times what it was in June, when there were whispers of bankruptcy.
    • By TOM KRISHER and CATHY BUSSEWITZ
    AP Business Writers

    DETROIT — Eight months after it seemed headed for the corporate junkyard, Tesla is now worth more than General Motors, Ford and Fiat Chrysler combined, even though the Big Three together sell more cars and trucks in two weeks than Tesla does in a whole year.

    In a reversal of fortune analysts find amazing if not nutty, the stock of the electric vehicle and solar panel maker has rocketed to nearly $900, up over 30% in just the past two days. It is now worth five times what it was in June, when there were whispers of bankruptcy surrounding the company founded by the erratic visionary Elon Musk.


     
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