Only two weeks after its value became worth more than that of Ford and GM combined, Tesla’s market valuation has today surpassed the $100 billion mark. The electric car maker has also become the first publicly-listed U.S. automaker to hit the milestone (via Yahoo! News).
Also Wednesday, Wedbush Securities delivered more fuel for Tesla bulls. The brokerage said robust demand in China and Europe, coupled with production at Tesla’s new Chinese plant, will boost quarterly earnings that the company is set to report next Wednesday.
Tesla’s stock has more than doubled in the past three months, marking a surprising rebound for a stock that had shed nearly half its value in a roughly six-month stretch that ended last June.
With Tesla’s stock value climbing at a record-setting pace, CEO Elon Musk is now a step closer to expanding his wealth. If Tesla maintains its valuation above $100 billion, it could trigger the first $346 million of options in Musk’s performance-based pay package.
Tesla’s stock market value will, however, need to remain at the current level for a one-month and a six-month average period to allow Musk to buy additional Tesla shares.