Tesla closed a massive $200 billion gap between itself and Boeing to become the most valuable industrial company in the U.S. And no, it isn’t Tesla’s market cap that has suddenly spiked. On the contrary, it is Boeing that has received a double blow. Even before coronavirus started to make its impact felt on global markets, Boeing was already struggling with a slew of grounded planes globally. Coronavirus simply accelerated the already struggling stock’s decline on the markets.

Boeing is struggling financially too. The company is now planning to cash out on a loan of $13.825 billion to tackle what is practically a ban on air travel amid concerns of coronavirus, all while the company’s reputation continues to suffer. Boeing’s star player, the 777 has been grounded for about an year now after two 737 MAX planes crashed within the short duration of five months, resulting in the death of all 346 people on board.

Tesla on the other hand, despite a rather uncomfortable dependence on China for production, outperformed expectations in the last two quarters. The company most recently became the only US car maker to have a market cap of over $100 Billion. And even though it is way down the alley when compared with a $900 high that it recently achieved, the stock is comparatively stable.

As financial markets continue to tumble globally, airlines, their allied industries and aircraft makers are expectedly, among the first hit. Due to coronavirus outbreak, which just WHO just declared a pandemic, air travel is at an all time low, resulting in huge losses for companies like Boeing. Shares of the aircraft producing company have continued to fall rapidly because of the virus and the ongoing grounding of its best seller- 737 Max jetliner. The shares have plunged as much as 11%, signalling deep distress for the aviation brand.

Tesla has had a comfortable run in the industry as other struggle. And while coronavirus has hit the company as much as anyone else out there, the last two quarters have been so good that they more than make up for the dry patch. The company recently started operating its gigafactory in Shanghai, a feat that it achieved in record time, even by Chinese standards. Moreover, the company has been speeding past competition, recently leaving Volkswagen AG in the dust to become the company with the second highest market value in the automobile industry globally, lagging only behind Toyota Motor Corp. Its already the most valued auto maker in the states.