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.
QUICK LINKS
Contact Us 
