Tesla shares are down about 4.19% on Thursday, which has put it just below General Motors in terms of market capitalization. The selling makes for Tesla's sixth decline in eight sessions and its largest slide of 2017.
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Tesla is dethroned as the largest US automaker (TSLA, GM)
Tesla shares fell from their lofty perch on Thursday.
A Tesla Model S, post-crash.
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Here is a list of the big three companies by market cap, according to data complied by Google:
Tesla has lost more than $9.8 billion in market cap on Thursday and is trading at $314.52. If shares hit $309.60, the stock will officially be in bear market territory.
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Shares have of the auto maker have been pressured in recent days amid increased competition in the electric and self-driving car spaces. The company is also being pressured by a less than perfect safety rating by the IIHS, which was announced on Wednesday evening.
Even with the recent selling, shares of Tesla are up 45.5% in 2017.
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