Tesla’s market value evaporated by 360 billion overnight, and the current total market value is 763963 billion US dollars

Tesla's market value dropped by 360 billion overnight and is now worth 763 billion US dollars

【PhoneAuto News】On June 27th, PhoneAuto noted that on Monday, June 26th, Tesla’s stock price plummeted by over 6%, and its market value fell nearly $50 billion overnight (approximately RMB 360 billion). The stock closed at $241.05 with a total market value of $763.963 billion (approximately RMB 2.7242 trillion).

Tesla electric car

It is reported that Tesla’s recent stock price surge has been questioned by many Wall Street investment banks. Goldman Sachs downgraded Tesla’s stock rating to “hold” with a target price of $248 (currently about RMB 1,790), joining Morgan Stanley and Barclays. The latter two investment banks downgraded Tesla’s stock rating last week. Although these banks downgraded Tesla’s rating, they raised their target price to reflect its growth momentum. Since late April, Tesla’s stock price has soared 71%, more than doubling this year.

In the past month or so, Tesla’s total market value has increased by about $290 billion, an increase of 54% from its location of $527.2 billion in May 2023. Therefore, many people believe that Tesla’s market value may once again exceed $1 trillion this year. However, with Tesla’s stock price dropping again, it seems that returning to a market value of $1 trillion is becoming more and more distant…

It is worth mentioning that Tesla is now considering the location for its next electric car factory. From official sources, Tesla may enter the Indian market and build a factory there. Tesla CEO Elon Musk has hinted at this information before. In addition to India, Indonesia, Brazil and other places are also potential locations for Tesla’s factory construction.

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