Another selloff in Tesla Inc.’s stock TSLA on Tuesday, toward a more than two-year low, could drop the electric vehicle maker down to 13th on the list of most valuable S&P 500 SPX companies. The electric vehicle maker’s stock slumped 3.3% toward a seventh-straight loss in premarket trading, with recent trading prices implying a market capitalization of about $375.96 billion, down from $388.88 billion as of Friday’s close. That would put Tesla’s market cap below retailer Walmart Inc.
which had a market cap of $374.07 billion on Friday. Tesla’s market cap is a far cry from what it was at its peak of about $1.24 trillion on Jan. 3, 2022, according to FactSet data, which made it one of just a handful of trillion-dollar companies.
Consider other autos all trade at single digit PE’s that means Tesla has MUCH more to fall even if it merely hits 2X the PE of other major autos! Musk going down in flames fast.
Reality strikes.
Let it burn
$90 - $70 here we come 🚨