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Musk's Tesla has lost $600 billion in market value this year, now worth less than Berkshire Hathaway [View all]
Link to tweet
https://markets.businessinsider.com/news/stocks/musk-tesla-buffett-berkshire-market-cap-tech-stocks-twitter-economy-2022-11
Elon Musk's Tesla has tumbled below Warren Buffett's Berkshire Hathaway in market value, as investors continue to swap out riskier stocks for safer options, and worry Musk's Twitter takeover could be a costly distraction.
Tesla's market capitalization fell to just over $600 billion as of Tuesday's close, well short of Berkshire's $645 billion market value. Buffett's company has officially reclaimed its spot as the fifth-largest company in the S&P 500 index.
That's a striking reversal, given shares of Musk's electric-vehicle maker soared from a split-adjusted $30 at the start of 2020 to north of $400 last November, lifting the company's market cap from under $100 billion to over $1.2 trillion at its peak.
According to latest figures, Tesla stock has plunged by 52% this year, wiping roughly $600 billion from the automaker's market cap. Meanwhile, Berkshire shares have slid just 3%, leaving the conglomerate's market cap virtually intact. The contrast in their fortunes reflects how differently investors perceive the risk of holding each of their stocks.
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Tesla's market capitalization fell to just over $600 billion as of Tuesday's close, well short of Berkshire's $645 billion market value. Buffett's company has officially reclaimed its spot as the fifth-largest company in the S&P 500 index.
That's a striking reversal, given shares of Musk's electric-vehicle maker soared from a split-adjusted $30 at the start of 2020 to north of $400 last November, lifting the company's market cap from under $100 billion to over $1.2 trillion at its peak.
According to latest figures, Tesla stock has plunged by 52% this year, wiping roughly $600 billion from the automaker's market cap. Meanwhile, Berkshire shares have slid just 3%, leaving the conglomerate's market cap virtually intact. The contrast in their fortunes reflects how differently investors perceive the risk of holding each of their stocks.
-snip-
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