Tesla dropped out of the 10 most valuable US companies – Kommersant
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For the first time in 13 months, Tesla is not included in the list of the ten largest public companies in the United States by market capitalization, reports MarketWatch. The automobile concern dropped to 11th place, its place was taken by the Visa payment system.
At the end of trading on Wednesday, March 6, Tesla’s market capitalization was $562.2 billion, Visa’s was $563.4 billion. The last time Tesla dropped out of the top ten was in January 2023. The top five places are occupied by Microsoft, Apple, Nvidia, Amazon and Alphabet. Next come Meta (recognized as extremist and banned in the Russian Federation), Berkshire Hathaway, Eli Lilly and Broadcom.
Tesla shares fell 2.3% on Wednesday. The fall continued for the third day in a row. During this period, the share price fell by 12.9%, since the beginning of the year – by 29%. The company’s market value fell by $228 billion in 2024, according to Dow Jones Market Data. However, Visa shares are up about 8% this year and 24% over 12 months.
As MarketWatch notes, Tesla’s stock price is declining amid falling demand for electric vehicles. Morgan Stanley analyst Adam Jonas also noted that the Chinese market is oversaturated and is seeing lower prices.
About Tesla’s competitors in China – in the Kommersant publication “BYD almighty”.
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