Exxon Mobil has surpassed Tesla in market value for the first time since January 2023, as Tesla's sales, which missed analysts' estimates, slowed and its stock declined by 41% this year. Investors showed a preference for traditional energy sources over electric vehicles. On the trading day, Exxon's stock rose by 1.8%, reaching a market cap of $478.28 million, while Tesla's stock remained flat with a market cap slightly higher at $478.58 million.
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Stocktwits
$XOM $TSLA Never thought we'd be saying this... Exxon Mobil just overtook Tesla in market cap 👀 https://t.co/Tgp3StX3wg
Geiger Capital *EXXON'S MARKET CAP TOPS TESLA'S FOR FIRST TIME SINCE JAN. 2023 Renewables are dead. Oil is back.🛢️👑
Giovanni Staunovo🛢 Exxon’s Market Value Tops Tesla’s as Oil Rises, EV Sales Slow Tesla down 41% this year after sales miss analysts’ estimates Path to electrification may be slower than previously thought #oott https://t.co/kwNjXU9DqH
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