Tesla Overtakes Exxon’s Market Value in Symbolic Energy Shift

(Bloomberg) — Tesla Inc.’s market value has surpassed Exxon Mobil Corp.’s in a sign that investors are increasingly betting on a global energy transition away from fossil fuels.Elon Musk’s Tesla, now at $201 billion in market capitalization, is surging on the billionaire founder’s optimism that his company can avoid a second-quarter loss. Exxon, which dropped to $185 billion, is reeling from the worst crude-price crash in history. The largest oil company in the Western Hemisphere is preparing to cut some of its U.S. workforce.Tesla also is on the verge of passing Toyota Motor Corp. to become the most valuable automaker …read more

Source:: Yahoo Finance