As of early March 2020, there was a difference of almost $200 billion [$275.8B CAD] between Tesla and the highest valued industrial company in the United States, Boeing. This figure changed when Tesla surpassed Boeing’s market value during the trading day on Wednesday, March 11th. The shift marks another major milestone for Tesla Inc., following the news of the completion of their 1,000,000th car. Tesla’s economic growth has seen a slow and steady climb since the company’s launch back in 2003.
Of course, Boeing is no minor player when it comes to the industrial sector. As Boeing focuses on the aviation sector, it’s no surprise that the company has taken some significant hits due to coronavirus concerns and bans on international travel. Boeing has also halted all hiring in an effort to preserve its funds amid the outbreak, which has recently been labelled a pandemic by the World Health Organization.
The gap created in the wake of such issues made room for Tesla to surpass Boeing. In fact, according to one source at Bloomberg, “Boeing’s biggest one-day plunge in almost 40 years dropped its market capitalization to $106.5 billion, more than $10 billion below Tesla’s value.”
Tesla continues to surprise consumers and shareholders alike. Recent surges in its stock price and market capitalization make it even more likely that the electric vehicle manufacturer will continue to surpass companies with market values similar to Boeing’s. As Tesla expands out into green energy as well, the ceiling for the company’s future success in diverse markets remains unknowable.
