CNBC's "Fast Money" crew discusses the 10-year anniversary of Tesla's initial public offering, and whether the electric car maker can take on Nikola, a rival that hasn't produced a car yet. Subscribe to CNBC PRO for access to investor and analyst insights on Nikola and more: https://cnb.cx/2BT2E7y

Speculative traders are betting big that Tesla won’t be the only successful company of the future named for inventor Nikola Tesla. ARK Invest CEO and CIO Cathie Wood compares the two companies.

Shares of Nikola Corporation, which makes battery-electric and hydrogen-powered trucks, jumped more than 20% on Tuesday shortly after the open, before reversing course and plunging more than 20%. At that point, trading was paused for volatility. The stock wound up closing 8.8% higher, building on Monday’s surge which saw shares more than double.

The company began trading on June 4 after a reverse merger with VectoIQ, which is a publicly-traded special purpose acquisition company headed by former vice chairman of General Motors Stephen Girsky. The deal was announced in early March.

Based on Tuesday’s closing price, Nikola is now more valuable than Ford, according to data from FactSet. The electric vehicle maker is valued at $28.799 billion, compared with Ford’s $28.794 billion market cap.

Part of Monday’s surge was due to CEO Trevor Milton announcing a reservation date for the company’s upcoming Badger truck. His tweet follows a previous statement by the company that it would need to partner with an established OEM in order to bring the Badger to market.

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