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Tesla had its worst week since Elon Musk's effort to privatize the automaker collapsed, placing its market capitalization below Ford Motor Co. for the first time in more than a year.
Shares of the electric car builder finished Friday at $ 235.14, the lowest close since January 2017. The 14% fall of the week is the worst since Musk admitted in August that no one had seen or reviewed his tweet on the buyout of shareholders at $ 420. doubts about the seriousness of a plan that he gave up the following week.
Tesla closed this week's negotiations with a market capitalization of $ 40.6 billion, about $ 917 million less than Ford's. F-Series pick-ups generated exceptional gains, pushing Ford's stock up to 11% on Friday, their biggest gain since April 2009.
For the last time, Ford had closed its doors in front of the Tesla by market cap for a single day last year: April 2. Prior to that, the last time the company had had more value was March 31, 2017, according to data compiled by Bloomberg.
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