US-based electric vehicle manufacturer Tesla saw its share price increase again on Wednesday, surging 5.1 percent to USD 493.05. As such, the company's stock has already risen 18 percent in 2020, continuing the improvement seen last year, when it came to 26 percent.
Tesla, which has now risen 175 percent since its most recent bottoming-out in early 2019 at USD 178.97, not only books record upon record in its share price these days, but despite considerably fewer vehicles sold, lower revenue, smaller earnings and weaker cash flows, the company's value now exceeds that of Ford and General Motors (GM) – combined.
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