- Devin Nunes is suing Twitter over parody accounts of his mom, cow Monday 8:15 PM
- The best new movies at SXSW 2019 Monday 7:55 PM
- #AbledsAreWeird demonstrates how not to treat people with disabilities Monday 7:33 PM
- YouTubers keep uploading racist meme anthem played by New Zealand shooter Monday 5:38 PM
- Myspace confirms that a decade-plus of user-uploaded music is gone Monday 5:03 PM
- ‘Love, Death & Robots’ suffers from blatant sexism Monday 4:38 PM
- Khloe Kardashian faces backlash for Instagram post saying to ‘love thy racist neighbor’ Monday 4:07 PM
- This Twitter user wants to expose white YouTubers for racist, transphobic content Monday 3:55 PM
- Trump retweeted a QAnon supporter during his Twitter bender Monday 1:24 PM
- Katrina Pierson supports Trump tweeting more about Fox than New Zealand shooting Monday 1:19 PM
- PewDiePie’s alt-right ties are impossible to ignore Monday 1:05 PM
- With this blade, I protect this meme Monday 12:48 PM
- Lead actress in ‘The Color Purple’ revival criticized for homophobic post Monday 12:39 PM
- ‘Arrested Development’ ends the same way it did the first time—unceremoniously Monday 12:10 PM
- Alleged gunman tried to rob YouTuber Adam22 during livestream Monday 11:32 AM
Photo via Sergey Kohl/Shutterstock (Licensed)
The electric car manufacturer exceeded analysts’ expectations with reported shipments of 25,000 cars and SUVs in the first quarter of this year. The company is now valued at $48.7 billion, about $3.4 billion more than pioneer automaker Ford, which now finds itself in third also behind General Motors.
Tesla has been the target of many short sellers, including Jim Chanos, who is best known for betting against energy company Enron early on, as Bloomberg points out. But a record-breaking stock surge over the past few days puts Musk in the driver seat, and he wasn’t about to give up a chance of poking fun at his doubters.
Stormy weather in Shortville …
— Elon Musk (@elonmusk) April 3, 2017
Of course, Tesla doesn’t sell nearly as many vehicles as its competitors. Ford sold nine times the number of vehicles last month than Tesla did all quarter. Ford will also sell 6 million vehicles this year—substantially more than the 200,000 Tesla is pegged to ship out. But Ford missed its marks, and saw its stock fall, while Tesla’s shares rose 3.5 percent to $387.50. Promising sales numbers combined with the upcoming release of a budget-friendly Model 3 have investors bracing for a future of electric, autonomous vehicles.
Some investors still think Tesla’s successes will eventually catch up to it as the company pivots from a specialized sports car producer to one that sells to the masses.
“This is still the auto industry,” Maryann Keller, an auto industry consultant in Stamford, Connecticut, told Bloomberg. “It’s highly competitive and he will have to add plants and people just like GM and Ford do. There will be a day of reckoning at some point.”
Tesla still has a lot of work to do, but today marks another milestone for the company attempting to create the next Model T.
Phillip Tracy is a former technology staff writer at the Daily Dot. He's an expert on smartphones, social media trends, and gadgets. He previously reported on IoT and telecom for RCR Wireless News and contributed to NewBay Media magazine. He now writes for Laptop magazine.