Ford Motor Co. on Friday regained its status as the No. 2 U.S. car maker in market value, leaving Tesla Inc. behind after a massive earnings beat that stoked a rally for Ford stock.
Tesla TSLA, -5.04% shares traded at their lowest since January 2017, still reeling from the wider-than-expected first-quarter loss the company reported earlier this week. That brought Tesla’s market capitalization to around $40.6 billion.General Motors Co. GM, +1.46% is the top U.S. car maker by market cap, valued at $56 billion.
Ford late Thursday reported a per-share adjusted profit that handily beat Wall Street expectations, and sales that met forecasts.
'Oh and BTW we're under criminal investigation for lying about emissions, a type of scandal that had no real impact on European car makers, so don't worry about anything.'
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