00:00:26 EDT Fri 26 Apr 2024
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or Name
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General Motors Company
Symbol GMM
Shares Issued 1,510,679,832
Close 2017-05-23 U$ 33.12
Market Cap U$ 50,033,716,036
Recent Sedar Documents

Globe says GM, Ford see Tesla market cap soar

2017-05-24 07:47 ET - In the News

The Globe and Mail reports in its Wednesday, May 24, edition that Ford Motor ousted chief executive officer Mark Fields was replaced Monday by Jim Hackett, the director of Ford's driverless car division. The Globe's Eric Reguly writes that Mr. Fields was the victim of a split investor market. In auto land, there are two types of investors. There are those who are buying into the futuristic, tech-laden fantasy land promised by Tesla and there are those who believe that Tesla is a mirage. The Tesla non-believers gravitated toward Ford. They wanted a company that paid out a fat dividend and made excellent cars that slowly travelled along the technology curve. They did not want a company that bet the farm on a technology that might prove fleeting or shred the business if it were to go wrong. So far, Tesla is winning. Telsa's believers think Elon Musk's creation is like Apple in 2007, just before the launch of the iPhone. Tesla's market value on Tuesday was $51-billion (U.S.), up 44 per cent in a year, making it worth more than General Motors ($49-billion (U.S.)) and Ford ($43-billion (U.S.)). GM made about 10 million autos in 2016, while Tesla produced about 84,000.

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