Tesla's Valuation Is ‘Inexplicable’: AutoNation CEO
- AutoNation CEO Mike Jackson says GM is ‘clearly’ undervalued
- Tesla passed GM to become top U.S. automaker by market value
Why Tesla’s Market Cap Is About Belief, Not Evidence
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America’s biggest auto dealer isn’t sold on Tesla Inc. becoming the top U.S. automaker by market capitalization.
The relative value of Tesla and General Motors Co. is headed for a correction, as the latter is “clearly” undervalued, Mike Jackson, the chief executive officer of AutoNation Inc., said Tuesday. A week after topping Ford Motor Co., Tesla’s market cap climbed to $50.9 billion at Monday’s close, valuing the electric-car maker as worth about $64 million more than GM.