Meta Tops Tesla at $1.5 Trillion as Tesla Stock Drops 12.3% This Year
Updated
Updated · Forbes · Jul 8
Meta Tops Tesla at $1.5 Trillion as Tesla Stock Drops 12.3% This Year
3 articles · Updated · Forbes · Jul 8
Summary
Meta’s market value moved above Tesla’s on Wednesday, reaching more than $1.5 trillion with shares at $605.16 even as the stock fell 1.7%.
Tesla lost the lead because its shares dropped more than 2.3% on the day and are down 12.3% this year, versus an 8.5% decline for Meta.
July 29 now becomes the next test for Meta, with investors focused on AI infrastructure spending and whether its planned cloud business has any paying customers.
Meta is still about 25% below its August peak of $796.25 after last month’s tech selloff, though some analysts recently backed the stock on expectations of strong ad growth.
Tesla faces its own earnings test on July 22 as critics point to four years of flat vehicle sales and intensifying competition from Chinese EV makers.