Tesla to Ford Top 100-Week Highs as U.S. Automakers Surge: Cars
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America’s oldest car company, Ford Motor Co., and its youngest, Tesla Motors Inc., both reached 100-week highs yesterday, the latest in a long list of signs all pointing to the same thing: the U.S. auto industry is hot.
Ford, founded 110 years ago, closed at $16.84, buoyed by a U.S. auto market on pace for its best year since 2007. Ten-year-old Tesla, which makes $69,900 electric sedans, is joining the Nasdaq-100 Index three years after its market debut. General Motors Co., which emerged from bankruptcy four years ago today, rejoined the Standard & Poor’s 500 Index last month.