Hyperdrive
Tesla Closes $200 Billion Gap to Top Boeing by Market Value
- Ailing planemaker is latest giant to be passed up by Musk
- Maker of Model 3 briefly becomes top U.S. industrial company
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Tesla Inc. passed Boeing Co. as the most valuable industrial company in the U.S., closing a gap that was almost $200 billion a year ago.
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. The planemaker’s shares, already reeling since the grounding of its best-selling 737 Max jetliner, have been hammered by concerns about the coronavirus crimping global travel.