• 13/07/2024 15:45

Tesla fell back to 12th place in terms of capitalization in the US

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.

Tesla has rolled back in 12th place in terms of capitalization in the USA

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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.

minfin.com.ua

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