Tesla Inc. has fallen out of the top ten most expensive companies in the United States by market capitalization, losing to Visa Inc. which has overtaken it by $1.13 billion, UNN reports with reference to MarketWatch.
Details
On Wednesday, Tesla closed trading with a market capitalization of $562.24 billion, losing out to Visa Inc, which ended the day at $563.37 billion.
Since the beginning of the year, Tesla shares have fallen by about 29%, due to investor pressure on the share price, which has led to a decrease in capitalization to $228 billion.
Although gross margins gradually improved in the fourth quarter of 2023, Baird analyst Ben Kallo predicts that they will fall in the first quarter. In addition, the analyst notes that the company's supply estimates have fallen and will continue to fall.
As for Visa, its stock has remained stable, up about 8% since the beginning of this year and 24% over the past 12 months. Their share price is now only 2% below their all-time high.
Recall
For the first time in more than nine months, Elon Musk is no longer the richest man in the world. Musk lost his place in the Bloomberg Billionaire Index to Jeff Bezos after Tesla Inc. shares fell 7.2% on Monday