Tesla’s competition is fiercer than ever. That has done little, however, to quell a massive rally in the company's stock price that has erased year-to-date losses and quieted for now questions of whether it still deserves to be part of the Magnificent Seven—a movie-inspired term that describes the tech giants (Alphabet, Amazon, Apple, Meta, Microsoft and Nvidia are the others) that account for the lion's share of the stock market's gains in recent years.
When Tesla shares dipped as low as $138.80 in April, however, Tesla barely clung to its place on the list of America's top 10 largest companies. Pundits like CNBC's Jim Cramer had already declared that the company had vacated its seat among some of the country's most powerful and fastest-growing companies.
