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Rich neighborhood for Tesla's market cap

Apr. 10, 2017 12:17 PM ETTesla, Inc. (TSLA) StockGM, FDX, HMC, TSLA, PYPLBy: Clark Schultz, SA News Editor56 Comments
  • Tesla (TSLA +2.5%) briefly passed General Motors (GM +0.4%) in market cap this morning before retreating back a bit. The comparison is even more striking with GM trading at a forward PE ratio below 6.
  • "It's indicative of the market wanting to pay for potential, including into markets that don't exist yet in any large size such as EVs, home energy generation and storage, rather than profits and cash flow today that the large auto makers generate," notes Morningstar analyst David Whiston on the development.
  • The recent rally to over a $50B valuation places Tesla in the same general neighborhood as FedEx (FDX -0.2%), Monsanto, Honda (HMC -0.6%), Kinder Morgan, Las Vegas Sands, Barclays, PayPal (PYPL) - and not that far off from Caterpillar and General Dynamics the way shares have been rolling along. Now which one of that bunch sees a $60B market cap first?
  • The new high on Tesla is $313.73.

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