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Friday, May 22, 2009
We are more than aware that this doesn't mean squat in the real world, but nevertheless it's something worth noting. Last Wednesday's announcement that Mercedes-Benz parent company Daimler AG's paid $50 million US or about €37 million to acquire a 10 percent stake in Tesla Motors, means that the value of the California-based maker of electric cars is $550 million US, or 47 percent of what General Motors is worth today based on the firm's current stock price ($1.17 billion US)! Needless to say, GM's stocks have taken a deep plunge lately as the June 1 government-imposed bankruptcy deadline looms.
"It's sort of amusing to see the valuation being half of General Motors," remarked Tesla co-founder Martin Eberhard in an interview today. "There always seems to be this huge disparity between the stock price of high-growth Silicon Valley companies and blue-chip companies that are reasonably mature."
Via: Bloomberg
