Tesla’s market capitalization has plunged by close to $700 billion from its peak a year ago — more than the individual market value of all but a handful of America’s public companies.
Shares of Elon Musk’s automaker surged from a split-adjusted $30 at the start of 2020 to north of $400 last November, boosting Tesla’s market cap from under $100 billion to over $1.2 trillion. However, it has tanked by almost 60% since then to $530 billion as of Monday’s close.
Tesla’s $670 billion drop in market value isn’t far off the entire worth of Warren Buffett’s Berkshire Hathaway ($685 billion). It comfortably exceeds the market caps of Johnson & Johnson ($460 billion), Exxon Mobil ($457 billion), and JPMorgan ($390 billion).
Moreover, Musk’s electric-vehicle company has seen more than double the market cap of Home Depot ($324 billion), or the combined market caps of Coca-Cola ($268 billion) and PepsiCo ($255 billion) wiped off its market value.
