Tesla Market Cap Passes Nike's as the Electric-Car Maker's Stock Soars

With shares of Tesla (NASDAQ: TSLA) continuing to rise sharply on Tuesday, the electric-vehicle company's market capitalization crossed $163 billion -- over four billion dollars higher than athletic apparel company Nike (NYSE: NKE). At the time of this writing on Tuesday, Tesla had a market cap of about $163.3 billion, compared to Nike's market cap of $159.2 billion.

It took some staggering growth in Tesla's market cap required to surpass Nike; Tesla's market cap was only $40 billion just six months ago. This means the automaker's stock is up more than fourfold in six months. Interestingly, Nike has actually performed very well during this same timeframe, rising 25%. But the consumer goods company hasn't grown fast enough to stay ahead of Tesla.

Model Y. Image source: Tesla.

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Source Fool.com