Tesla shares have fallen 29% year to date amid supply concerns due to weakness in the Chinese and EU electric vehicle markets.
The capitalization of the American electric vehicle manufacturer Tesla on Wednesday, March 6, decreased by 2.3%, to $553 billion, which is why the company dropped to 11th place in the list of the most valuable companies in the United States. MarketWatch reported this.
Today the 10th place is taken by Visa with a capitalization of $563 billion.
Tesla shares have fallen 13% over the past three sessions and are down 29% year-to-date amid supply concerns due to weakness in the Chinese and EU electric vehicle markets.
“It’s going to be a tough year for electric cars. Demand is starting to slow despite continued price declines,” said Morgan Stanley analyst Adam Jonas.
He lowered his price target for the company’s shares to $320 from $345, while maintaining a “buy” recommendation.
Ten most valuable companies in the US:
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Microsoft – $2.99 trillion;
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Apple – 2.61 trillion;
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Nvidia – $2.22 trillion
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Amazon – $1.8 trillion;
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Alphabet – $1.64 trillion;
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Meta – $1.27 trillion;
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Berkshire Hathaway – $870.99 billion;
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Eli Lilly – $740.91 billion;
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Broadcom – $625.62 billion;
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Visa – $563.38 billion.
We remind you that the American semiconductor manufacturer Nvidia entered the top three most valuable public companies in the world after Apple and Microsoft, surpassing Saudi Aramco.
American entrepreneur and founder of Tesla and SpaceX Elon Musk lost the title of the richest man in the world to Amazon founder Jeff Bezos.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.