Tesla's shares are the second-largest decliner on the S&P 500 Index in 2024, erasing over $290 billion in value since the end of the previous year. The company has not had a market value below $500 billion since late April of the previous year.
Key takeaways:
- Tesla Inc. shares continued to decline in 2024, reducing the company's market valuation to below $500 billion.
- The decline was influenced by a round of job cuts that negatively impacted the company's sentiment.
- Tesla's stock fell about 4% to below $154, marking a total drop of 38% for the year.
- Tesla shares are the second-biggest decliner on the S&P 500 Index in 2024, erasing more than $290 billion in value since the end of the previous year.