All hail king Musk. Talk about a successful man, Elon is the perfect example. 48 year old Elon Musk, the founder, CEO, and chief engineer/designer of SpaceX, CEO and product architect of Tesla, Inc. founder of The Boring Company, co-founder of Neuralink, and co-founder and initial co-chairman of OpenAI is not an ordinary man you see every day.
Tesla shares, one of the companies lead by Elon Musk, are up a whopping 93% over the past three months, skyrocketing Tesla to the position of the most valuable car company in America ever. Period!.
Tesla’s current market capitalization is approaching $83 billion and that exceeds the peak Ford Motor (F) market value of about $81 billion set in 1999, according to Dow Jones Market Data. Tesla’s market value is also larger than prebankruptcy General Motors (GM), current General Motors, and pre- Daimler (DAI.Germany) Chrysler or Fiat Chrysler Automobiles (FCAU). (Chrysler and Daimler merged in 1998.)
Analyst Bill Selesky of Argus Research on Tuesday raised his price target on Tesla Inc. TSLA, +3.88% stock to $556, saying that last week’s better-than-expected fourth-quarter deliveries, Tesla proxy for sales, highlight the popularity of the Model 3 and ongoing revenue growth from Model S and Model X sales. Selesky kept a buy rating on the stock. “Despite recent production delays, parts shortages, labor cost overruns, and a host of other difficulties, we expect the company to improve performance over time,” he said in a note. Argus’s $556 price target is among the highest on Wall Street; the average Tesla price target is $344.07, according to FactSet. Tesla shares notched a record close of $469.06 on Tuesday, the latest in a series of high-water marks going back to mid-December.