Tesla stock prices continue to decline, as a result of which the electric vehicle manufacturer has fallen to 12th place in the list of leaders by capitalization in the United States. MarketWatch reports this.
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How the stock price changed
Tesla shares fell by 4.5% on March 13 to $169.48, so the company’s market value was $545 billion. Thus, the automaker passed ahead of JPMorgan Chase & Co bank ., whose share price increased by 0.8%, and capitalization exceeded $551 billion.
Tesla share prices have dropped by more than 31% since the beginning of this year, which is the worst indicator among the companies included in the calculation Standard & Poor's 500. At the same time, the index itself increased by about 8%.
Analysts' forecast
Wells Fargo analysts downgraded their recommendation for the automaker's shares to “underweight” from ” at market level,” the target price is up to $125 out of $200.
Of a total of 50 experts who analyze Tesla shares, nine are pessimistic about them. At the same time, the securities have a positive rating from eighteen analysts, another 23 people have a neutral assessment of the company’s securities.