Tesla shares hit an all-time high on Monday, after the electric carmaker announced strong first-quarter delivery numbers Sunday that outpaced analysts’ expectations.
Tesla shares surged as high as $294.15, blowing past a prior high of $291.42, set on Sept. 4, 2014, and pushing Tesla’s market capitalization past that of Ford. Tesla’s market cap is now about $47.8 billion, while Ford’s sits at about $44.8 billion.
Now, Tesla is just a few billion behind General Motors’ $50.9 billion market cap.
To put this in perspective, Tesla sold just over 76,000 cars in 2016, whereas Ford sold 6.7 million cars in the same year.
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