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Tesla is now worth less than Ford

Matt Burns

Tesla’s stock price is falling and in doing so, has retreated on milestones it set last year. As of publication, the company’s value is less than Ford’s for the first time in a year. At current levels, Tesla’s market cap is $42.063 billion while Ford is trading at $43.588. It was a year ago tomorrow that Tesla overtook Ford’s market cap.

Both companies’ stock prices are trading down on the day, though Tesla’s stock is seemingly crashing over the last week and is at a 52-week low. The company is still reeling from a week of bad news that included a mass recall, a report on manufacturing woes, and a fatal crash involving Tesla vehicle operating in its self-driving mode.

Ford’s stock is, however, trending up over the last month though is also trading around a 52-week low.

Much fanfare was made when Tesla overtook Ford’s market value. It was championed as the wave of a future, but some cautioned that the stock price was overvalued. Elon Musk seems to be taking the news well, tweeting in jest yesterday, on April Fool’s, that the company is bankrupt.

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Matt Burns
Matt Burns is a longtime technology journalist, now Editorial Director at Insight Media Group and formerly Managing Editor at TechCrunch. At Insight Media Group, he guides coverage and contributor programs across fast-growing tech publications. Before that, he spent 15+ years at TechCrunch, rising from contributor to Managing Editor, helping scale the newsroom and program Disrupt’s stages and TechCrunch’s other events. Earlier, he also wrote for Engadget. Matt co-founded the Resilience Conference, an event series at the intersection of defense, security, and startup innovation. There he builds agendas, hosts sessions, and launched “Launch @ Resilience,” a showcase for early-stage teams building nation-defending technology. Across roles, he’s reported on and moderated conversations in AI, mobility, frontier tech, and the hard problems technology companies face. He’s interviewed world leaders, top investors, startup founders, and public-company CEOs. Lifelong Michiganian with plenty of Silicon Valley miles, he brings Midwest empathy and an editor’s eye. Offstage, he works with teams to sharpen narrative and validate go-to-market plans, and, when possible, camping along Lake Michigan.
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April 30
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