Tesla stock slides, loses 'Most Valuable US Automaker' crown

Tesla is mired in a slump. The Palo Alto, California-based company dropped 5.6 percent on Thursday, shrinking Tesla’s market capitalization to $50.7 billion, down from $62.99 billion less than two weeks earlier. Overall, shares have dropped 19 percent from their June 23 high, eliminating more than $12 billion of market capitalization, thus stripping Tesla of the title, most valuable U.S. automaker. Tesla ($50.7B) now sits behind General Motors ($52.65B) and ahead of Ford ($44.64B)