Categories: News

Tesla’s company worth is now less than Ford’s

It seems Tesla, the electric automotive company, is having a difficult time keeping financial troubles at bay. Just a few days back, Tesla’s stock dropped to the lowest in two years and the company credit rating was downgraded. Now for the first time in a year, Tesla worths less than Ford. Currently, Tesla’s market capitalization stands at $42.063 billion as compared to Ford which is capitalizing at $43.588 billion.

Amidst the stocks nosediving and Tesla’s self-driving car crash, the company’s stock has hit a new 52-week low. The stock price of both automotive companies is on a downward trail, but Ford is now catching up and an upward trend has been observed in the last month.

When Tesla overtook the market value of Ford, it garnered much appreciation and also speculations from the technology industry. While it was termed as the wave of future, may experts cautioned that Tesla’s stock price may be overvalued. It seems that Elon Musk is putting a good show of being a great sport by tweeting on April Fool’s Day that his company is bankrupt.

What remains to be seen is how Tesla will be coping up with financial and production deadlocks, while the pessimism amongst investors and creditors increase for the company’s inability to meet milestones and production targets.

Sponsored
Asra Rizwan

I profile people and startups contributing to the Pakistani technology entrepreneurial ecosystem. Share a story with me, asra@techjuice.pk

Leave a Comment
Share
Published by
Asra Rizwan

Recent Posts

250 Government Schools to Be Run by Private Sector

RAWALPINDI: The chairman of the Punjab Education Foundation, Malik Shoaib Awan, stated on Monday that…

22 mins ago

Pakistan Launches First National Sex Offenders Register to Combat Sexual Violence

Pakistan has taken a significant step towards addressing sexual violence and abuse with the introduction…

28 mins ago

SBP Chief Reports October Remittances Exceed $3 Billion

KARACHI: The State Bank of Pakistan (SBP) is anticipating $500 million from the Asian Development…

38 mins ago

Sindh Assembly Reveals 28,500 Govt Employees’ Spouses as Illegal BISP Beneficiaries

The Sindh Assembly was informed that over 28,500 employees of the provincial government were unlawfully…

2 hours ago

SBP Eases Policy Rate by 2.5% as Inflation Shows Steady Decline

The Monetary Policy Committee (MPC) of the State Bank of Pakistan decided to cut the…

2 hours ago

SECP to Host Pakistan Startup Summit in Karachi Next Week

The Securities and Exchange Commission of Pakistan (SECP) is organizing the Pakistan Startup Summit, which…

2 hours ago