Tesla shares are hammered again. Will it be next?

Tesla TSLA Market Cap 

Tesla chart courtesy of Trading Economics

Tesla has lost about $720 billion in market cap.

Facebook META Market Cap 

Meta chart courtesy of Trading Economics

This is an impressive effort by Meta, down $681 billion in market cap from its peak. Alas, Meta never got high enough to lose $1 trillion so it's out of the running. 

Microsoft MSFT Market Cap 

Microsoft chart courtesy of Trading Economics

Microsoft is down $741 billion from its peak, a bit more than Tesla and it has much more room to drop.

Apple AAPL Market Cap

Apple chart courtesy of Trading Economics

Apple is down an impressive $827 billion in market cap and it has a mountain of room to drop. But before you waive the checkered flag for the silver medal, let's keep looking.

Amazon AMZN Market Cap 

Amazon chart courtesy of Trading Economics

Amazon is down $894 billion from its peak. 

Don't rule out Tesla as a dark horse candidate but as you can see, competition is stiff.

Exxon Mobil Special Announcement

Exxon Mobil chart courtesy of Trading Economics

Exxon Mobil XOM has already passed Facebook and Tesla in market cap. 

It's on pace to push past Google soon. 

Do not be at all surprised if it passes all of the above companies. Meanwhile, insane predictions persist for technology companies.

Are You Keeping the Faith in Cathie Wood's ARK?

(Click on image to enlarge)

Cathie Wood's ARK ETF courtesy of StockCharts.Com, annotations by Mish.

For discussion, please see Are You Keeping the Faith in Cathie Wood's ARK?

Wood's Predictions

• The price of bitcoin will hit $1 million by 2030, a roughly 6,000% increase from current levels.
• Wood calls for Zoom, ARKK’s largest holding, to approach $1,500 a share in 2026. That is based in part on expectations of a worker backlash against returning to offices. Her bear case is for shares to trade at $700.

Cathie Wood’s Ark Open Source Model Predicts Tesla Shares Will Hit $4,600 by 2026

Please recall my April 18, 2022 post Cathie Wood’s Ark Open Source Model Predicts Tesla Shares Will Hit $4,600 by 2026

By 2030 ARK predicts a share price of about $22,500 equating to a market cap of roughly $22.5 trillion.

US Real GDP in 2021 was $19.8 Trillion.

ARK is predicting the valuation of Tesla will exceed the entire US real GDP by the early 2030s.

What a hoot!

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