Elon Musk's electric car business exceeds the value of almost every company in the S&P 500, including some iconic American companies.
Shares of . were up 4% in midday trading Wednesday to a new record high of above $1,120 a share. At that price, Tesla's market cap is nearly $210 billion
Now there are only 19 companies in the S&P 500 worth more than Tesla. One of them is CNN owner . Tesla is also worth more than -- a company that was formed from the merger of another payments company co-founded by Musk.
Optimism about electric vehicles isn't limited to Tesla.
Shares of electric truck maker Nikola have soared since the company went public in June through a merger with an existing publicly traded blank check company. Nikola is now worth nearly $25 billion, more than .
And the stock of electric battery maker private startup Lordstown Motors, has more doubled in just the past week. , which has a stake in