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Tesla is now worth less than Ford

Matt Burns

Tesla’s stock price is falling and in doing so, has retreated on milestones it set last year. As of publication, the company’s value is less than Ford’s for the first time in a year. At current levels, Tesla’s market cap is $42.063 billion while Ford is trading at $43.588. It was a year ago tomorrow that Tesla overtook Ford’s market cap.

Both companies’ stock prices are trading down on the day, though Tesla’s stock is seemingly crashing over the last week and is at a 52-week low. The company is still reeling from a week of bad news that included a mass recall, a report on manufacturing woes, and a fatal crash involving Tesla vehicle operating in its self-driving mode.

Ford’s stock is, however, trending up over the last month though is also trading around a 52-week low.

Much fanfare was made when Tesla overtook Ford’s market value. It was championed as the wave of a future, but some cautioned that the stock price was overvalued. Elon Musk seems to be taking the news well, tweeting in jest yesterday, on April Fool’s, that the company is bankrupt.

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Matt Burns

Matt is a Managing Editor at TechCrunch.

He started at TechCrunch as a freelance writer in 2008 and moved up the ranks to become the Managing Editor in early 2017. Born and raised in the heart of the automotive world, he has a special place in his heart for mobility startups and gadgets.

At TechCrunch he manages the editorial side of the company’s events including TechCrunch Disrupt, TechCrunch Sessions and the company’s various worldwide events. Previously he was a freelance writer at Engadget and EngadgetHD where he hosted podcasts until he was removed from that role after saying a swear word. He’s very sorry and promises it won’t happen again.

His passions include emails, run-on sentences and following through with action items developed during a conference call. And woodwork.

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