“It’s almost like Tesla is positioned in people’s minds as an energy storage company
that happens to put most of its batteries on wheels,” said Andrew Stewart, chief investment officer at Exchange Capital Management, an investment firm in Ann Arbor, Mich.
Tesla is also prone to more volatile stock movements because Mr. Musk
and other board members and top executives own a large chunk of shares, leaving a relative few that change hands frequently, he said.
Mr. Brauer said that reception was unfortunate for G. M.
and Ford because “the reality is, they’re as financially healthy as they’ve ever been, and they’re in very good position for the future.”
Both companies have rebounded steadily since the recession, although G. M.
needed a bankruptcy filing and $49 billion government bailout to recover.
Tesla Passes Ford in Market Value as Investors Bet on the Future -
By BILL VLASIC and NEAL E. BOUDETTEAPRIL 3, 2017
DETROIT — The record pace of auto sales in the United States is slowing down, leaving investors increasingly bearish on auto stocks.
“While you have Ford and G. M., and they’re these decades-old, more-institutional industrial companies.”
Because of Tesla’s acclaim and the limited number of shares being traded, the company draws more individual investors,
and its share price tends to spike whenever Tesla or Mr. Musk makes news.
