Eli Lilly Surpasses Tesla in Market Cap Amid EV Maker's Stock Plunge

Tesla's disappointing Q4 earnings report triggers a 12% drop in stock, while Eli Lilly's successful weight-loss drugs drive its shares up.

Tesla's market cap has dipped below that of pharmaceutical giant Eli Lilly, following a 12% single-day plunge in Tesla’s stock.
Tesla's Q4 earnings report fell short of revenue and profit expectations, triggering the significant drop in its stock price.
Eli Lilly's ascent began in 2023, driven by the success of its weight-loss drugs Mounjaro and Zepbound, which led to a 59% surge in its shares for the year.
Tesla's stock has plummeted 27% this month and was recently outpaced by Chinese EV manufacturer BYD in car sales.
Analysts are bullish about Eli Lilly’s future, with predictions that the company’s stock could skyrocket 140% by 2028 due to increasing demand for GLP-1 drugs.