(CNN) — Electric automaker Tesla is now worth more than nearly every company on the S&P 500.
Tesla shares were up four percent in mid-day trading Wednesday, to a new record high of above $1,120 dollars a share.
At that price, Tesla’s market capitalization is nearly $210 billion, making it the most valuable auto company on the planet, ahead of Toyota.
Elon Musk’s electric car business has also passed the market caps of DOW components Coca-Cola, Disney, Cisco, Merck, and Exxon Mobil.
Now there are only 19 companies among the 500 companies on the S&P 500 with a higher value.
Tesla is not on the S&P 500 yet because it isn’t consistently profitable enough.
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