Tesla stock dive sends market cap of the green energy darling below oil giant Exxon Mobil's
Tesla is now the S&P 500's 12th most valuable firm measured by market capitalization after previously climbing as high as fifth.
The last time Tesla was worth less than Exxon was early 2020 — before the COVID-19 pandemic triggered a massive reversal of fortune has since come undone amid the global energy crisis, Fed rate hikes, and Elon Musk's Twitter takeover.Tesla stock is enduring its Tesla has faced immense pressure all year on aggressive Fed rate hikes that have slammed tech stocks broadly and growth concerns in China. Analysts and investors have also warned Tesla could face more downward pressure as Musk remains preoccupied with his acquisition of Twitter, a company where he is also CEO.
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Tesla sends Shanghai boss and aides to jumpstart US outputTesla Inc's China chief Tom Zhu and a team of his reports have been brought in to troubleshoot production issues in the United States, fueling talk among colleagues he is being groomed for a bigger role at a time when Chief Executive Elon Musk has been distracted by Twitter.
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Tesla Reportedly Plans Layoffs And Hiring Freeze Amid Stock Turmoil And Musk’s Twitter MeltdownTesla Stocks have plummeted 64% since Musk announced his 9% stock in Twitter on April 4.
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Tesla Reportedly Plans Layoffs And Hiring Freeze Amid Stock Turmoil And Musk’s Twitter MeltdownTesla Stocks have plummeted 64% since Musk announced his 9% stock in Twitter on April 4.
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