Another milestone for Tesla. The electric car maker's market valuation raced past the $100 billion mark Wednesday, becoming the first U.S. automaker to do so. The feat comes just two weeks after its value became worth more than that of Ford and GM combined.
Tesla's turbocharged stock has been climbing at a stunning pace, more than doubling in just the past three months. That's a big rebound for a volatile stock that had shed half its value in a roughly six month stretch that ended last June.
And with the stock's strong advance, CEO Elon Musk is now a step closer to expanding his wealth. Maintaining his company's valuation above $100 billion could trigger the first $346 million of options in his performance-based pay package.
Also Wednesday, Wedbush Securities delivered more fuel for Tesla bulls. The brokerage said robust demand in China and Europe, coupled with production at Tesla's new Chinese plant, will boost quarterly earnings that the company is set to report next Wednesday.