The current slump has eliminated more than $12 billion of market capitalization and in the process taken away Tesla's bragging rights as the most valuable U.S. carmaker. That put Tesla behind General Motors, which had a $52.65 billion valuation on Thursday, though still ahead of Ford at $44.64 billion. The biggest hits to Tesla came in trading this week, with consecutive declines every day through Thursday. At that point, it will no longer sell vehicles with merely gasoline or diesel engines. That’s kept it a minor player so far in the biggest and fastest-growing market for electric vehicles, Johnson said.

Source: Forbes July 07, 2017 00:21 UTC