Another selloff in Tesla Inc.’s stock TSLA, -1.76% on Tuesday, toward a more than two-year low, could drop the electric vehicle maker down to 13th on the list of most valuable S&P 500 SPX, +0.59% companies. The electric vehicle maker’s stock slumped 3.3% toward a seventh-straight loss in premarket trading, with recent trading prices implying a market capitalization of about $375.96 billion, down from $388.88 billion as of Friday’s close. That would put Tesla’s market cap below retailer Walmart Inc.’s WMT, +0.20%, which was at $387.72 billion on Friday, and below banker JPMorgan Chase & Co.’s JPM, +0.47%, which was at $385.07 billion. Tesla now sits just above semiconductor maker Nvidia Corp. NVDA, -0.87%, which had a market cap of $374.07 billion on Friday. Tesla’s market cap is a far cry from what it was at its peak of about $1.24 trillion on Jan. 3, 2022, according to FactSet data, which made it one of just a handful of trillion-dollar companies.
