Meta has dropped out of the world's top 10 companies by market value, Bloomberg reported on Thursday, citing data it collected.

According to its information, Meta's total value was $565 billion after the stock exchange closed on Thursday, putting it in 11th place behind China's Tencent. In September, the company was sixth in the world with a valuation above $1 trillion, but has lost about 46% of its market value in a few months. Its place in the ranking is now taken by Elon Musk's Tesla.

First place in the top 10 is Apple with a total value of around $2.8 trillion, followed by Microsoft, valued at $2.2 trillion, and in third place is Saudi Arabia's national oil company Saudi Aramco, valued at around $2 trillion.

According to the agency, the total loss in value of Meta shares exceeds the market capitalization of all but eight companies in the S&P 500 index.