For a moment, Tesla was worth more than BMW
For a little while, Tesla was worth more than even the fanciest automakers.
The clean energy carmaker gained enough value in the stock market Friday to propel it past BMW — traditionally one of the highest-value auto companies.
Tesla shares rose in value after Elon Musk voiced his confidence that Tesla could soon produce its long-awaited more affordable Model 3 at scale, for actual purchase by any customers.
Tesla stock rose 1.9 percent to help Tesla outpace BMW’s $61.3 billion market value. By the end of the day, though, Tesla ended up $2.6 billion below BMW.
Tesla’s gain over BMW was only in its