GM Could Overtake Tesla as the Most Valuable U.S. Carmaker
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The battle between Tesla Inc. and General Motors Co. for the most valuable U.S. carmaker is heating up.
After Tesla followed in the footsteps of the legacy automakers and announced a plan to cut jobs on Friday, shares of the electric vehicle maker dropped as much as 10 percent in New York, bringing its market capitalization to just $54.2 billion. GM, whose shares have gained as much as 0.6 percent today, is now valued at $54.4 billion.