The Globe and Mail reports in its Tuesday edition that Tesla on Monday became the most valuable U.S. automaker, edging past General Motors (all figures U.S.). A Reuters dispatch to The Globe reports that Tesla rose 3.26 per cent to a new high of $312.39, and its market value exceeded GM's, which ended at $50.88-billion. Tesla has surged 35 per cent this month as investors bet that it and chief executive officer Elon Musk will revolutionize the auto and energy industries. Tesla's market capitalization is now equivalent to $102,000 for every car it plans to make in 2018, or $667,000 per car sold last year. By comparison, GM's market capitalization is equivalent to $5,000 per car it sold in 2016. Proponents believe Tesla will become a carbon-free energy and transportation heavyweight and they argue its valuation is reasonable based on long-term expectations. Piper Jaffray analyst Alexander Potter says, "Even with all the risks, we think growth investors can't afford to ignore this stock." He hiked Tesla to "overweight" from "neutral." Skeptics believe Tesla's growth targets are unrealistic and that it is at risk of being overtaken by GM, Ford and other deep-pocketed manufacturers.