ASSOCIATED PRESSTesla’s market cap hit $100 billion on Wednesday, speeding past Volkswagen, which currently sits at $88 billion. Tesla shares surged 16% in the week through January 23, increasing Elon Musk’s net worth by $1.7 billion to $32 billion. Tesla shares have more than doubled since October and are up more than 30% this year — and it’s still only January. Ford and GM delivered 2.4 million and 2.9 million vehicles, respectively, over the same period, while Volkswagen delivered nearly 11 million vehicles. We continue to urge caution with regard to Tesla shares, which appear highly overvalued based on our understanding of the fundamentals.”With Tesla shares near an all-time high, all eyes will be on its earnings announcement coming on Wednesday January 29 .

Source: Forbes January 24, 2020 20:48 UTC