Tesla founder and CEO Elon Musk have lost nearly $10 billion amid falling stock. Judging by the Forbes Real-Time rating, the entrepreneur dropped out of the five richest people in the world and now occupies the seventh place.
Musk lost $9.9 billion, or 11.29 percent of his total assets. On Tuesday, September 8, during trading on the NASDAQ stock exchange, Tesla shares fell by more than 18 percent вЂ” from $418.32 to $337.9 per share. This happened after the S&P Dow Jones Indices committee refused to include the electric car manufacturer in the S&P 500 index.
Over the past year, Tesla has risen in price several times, and it was the expectations of investors about the company's inclusion in the S&P 500 that were one of the main growth drivers. The S&P 500 is one of the key US stock indices, which includes blue chips (the largest, most liquid, and reliable companies with stable performance).
Tesla is now called one of the most dangerous companies for investors. Analyst firm New Constructs believes the stock is highly overvalued and considers the stock вЂњone of the biggest house of cards of all time that is about to crash.вЂќ According to analysts, the fair price of Tesla shares is about 10 percent of real indicators, that is, $41.8 per share.