The fact that this is even a topic of conversation is a testament to how much Tesla has fallen, with sluggish sales and a vehicle lineup that is overdue for an update in the face of now-formidable competition. Tesla's market capitalization... had plummeted from a high of more than $1.2 trillion on January 3, 2022, to $452 billion on Monday.
Tesla regained value later this week following a conference call in which the company affirmed its plans to develop low-cost models. On Wednesday, Tesla's market cap hit $516 billion.
Meanwhile, ExxonMobil and the oil and gas industry have been on a hot streak ever since Russia invaded Ukraine in February 2022, benefiting from geopolitical instability that has boosted prices of oil and gas, an instability that has grown with the current conflict in the Middle East. ExxonMobil's market cap went from less than $300 billion before the invasion to $480 billion as of Wednesday.
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