Tesla Stock Loses $700 Billion in Value – *Triples* Disney’s Total Market Cap

Tesla’s market capitalization is said to have fallen by more than $1.2 trillion to $530 billion in the past year alone. The $760 billion loss is equivalent to three times the total market capitalization of The Walt Disney Company

Business Insider reports that Tesla’s market valuation has fallen nearly $700 billion from its peak a year ago. Insider notes that the $670 billion drop is equivalent to the market value of three Disneys, four Nikes or six Starbucks.

Tesla’s market capitalization rose from less than $100 billion at the start of 2020 to more than $1.2 trillion in November, pushing the stock price of Elon Musk’s automaker from an adjusted price from $30 to over $400. However, it has fallen nearly 60% since then to $530 billion as of Monday’s market close.

This massive drop in market value is not far off the total value of Warren Buffet’s Berkshire Hathaway company, valued at $685 billion. Insider notes that Tesla’s drop in market capitalization is equivalent to three times the total market value of McDonald’s ($201 billion), Disney ($178 billion) or Wells Fargo ($178 billion).

Only five S&P 500 companies — Apple, Alphabet, Amazon, Microsoft and Berkshire Hathway — are worth more than the $670 billion in market value Tesla has lost over the past year, reflecting a broader exodus from growth stocks and concerns that Musk’s new venture overseeing Twitter transactions will be a major distraction for the CEO.

Tesla has promised for some time that most of its profits will be made in the future, but under current market conditions stocks such as Tesla are becoming less attractive to investors.

Add to that Musk recently buying Twitter for $44 billion and cashing in on billions of dollars worth of Tesla stock to fund the company, many investors are concerned. Tesla shareholders are also concerned that Musk will lose focus over time as he tries to restructure Twitter and may even sell more Tesla stock to cover costs, further affecting Tesla’s share price. .

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Lucas Nolan is a reporter for Breitbart News covering free speech and online censorship issues. Follow him on Twitter @LucasNolan