Interesting development on US markets last night.
Ferrari tops Detroit Three, Tesla tops all
May 5, 2020 3:27 AM ET|About: General Motors Company (GM)|By: Yoel Minkoff, SA News Editor
Following bumper earnings that sent shares of the sports carmaker up 7% on Monday, Ferrari's market cap ($29.8B) is now worth more than each of the Detroit Three - GM ($29.3B), F ($19.2B) and FCAU ($13B).
Investors are betting on Ferrari's storied brand name and profit margins despite producing a fraction of the other major carmakers (about 10,000 vehicles a year vs. GM's 7.7M), while shares have tripled in value since its IPO in late 2015.
Speaking of market cap figures, Tesla (NASDAQ:TSLA) is worth more than all of the above-mentioned automakers combined at $130B, putting Elon Musk on track for a $700M payout just days after saying the EV maker's stock was too high.
Further interesting fact - at current market capitalisation of US$130B, Tesla is now $30B bigger than BHP - ie a whole GM bigger...
When will the Tesla Burnley butt?
sorry mate, you've lost me there.