Source: Zero Hedge
Tesla Now Valued More Than World’s Largest Automaker After Volkswagen-Like Short Squeeze In a delightful turn of irony, the relentless short squeeze that has gripped Tesla shares ever since the Fed launched QE4 in October, a squeeze many have compared to the infamous Volkswagen short squeeze of 2008, sent TSLA shares another 5% higher in the process pushing the electric vehicle maker’s market cap above $100 billion for the first time ever, $103BN to be precise, rising above the world’s largest automaker Volkswagen (at $100BN), bigger than Toyota. It is now also bigger than GM ($50BN) and BMW ($51BN) combined, and is almost 3 times bigger than Ford ($36.5BN). The record milestone came less than a month after Tesla”s stock crossed the infamous “funding secured” bogey of $420, the fake LBO price tweeted by Musk in 2018 which put got in much trouble for securities fraud, and which cost Musk his position as Tesla Chairman More importantly, by surpassing a $100BN market cap, a record-breaking $346MM pay package for Elon Musk is now triggered.
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