- Shares of Tesla surged to a record high which briefly exceeded Facebook’s for the first time on Thursday.
- The stock was last up 5.8%, giving the company a value of $758 billion, compared to Facebook’s stock market value of $765 billion, according to Refinitiv data.
- Musk surpassed Amazon.com Inc’s Jeff Bezos to become the world’s richest man, Bloomberg News reported on Thursday.
- Analysts, on average, expect Tesla to report $1.2 billion in net profits for 2020, compared to $5.8 billion in net profits expected from GM and $27.1 billion in net profits expected from Facebook, according to Refinitiv.
- The California car maker has become the most valuable auto company in the world, by far, despite production that is a fraction of rivals such as Toyota Motor, Volkswagen and General Motors.
Read the FULL article over at Business by clicking here
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