Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Tesla has fallen back to 12th place in terms of capitalization in the United States


March, 14 2024
watermark Economic news

Tesla's stock prices continue to decline, as a result of which the electric car manufacturer has fallen back to 12th place in the list of leaders in capitalization in the United States.


Tesla securities fell in price on Wednesday by 4.5% to $169.48, based on which the company's market value amounted to $545 billion. Thus, the automaker passed ahead of JPMorgan Chase & Co., whose share price increased by 0.8%, and capitalization exceeded $551 billion.


Since the beginning of this year, Tesla's stock prices have dropped by more than 31%, which is the worst indicator among the companies included in the Standard & Poor's 500 calculation. At the same time, the index itself increased by about 8%.


In addition, on Wednesday, Wells Fargo analysts downgraded the recommendation for the automaker's securities to «below market» from «at market level», and the forecast price to $125 from $200.


In general, most experts who analyze Tesla shares are pessimistic about them. Evercore experts, after visiting the Tesla plant in Texas, said that it would probably take several more years before the launch of a new, cheaper, electric car model. That is, longer than expected on Wall Street. 


Chief Executive Officer Elon Musk previously claimed that the company expects to begin production of this next-generation electric vehicle by the end of 2025, but experts expect this no earlier than 2027.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.