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Exxon Used to Be America’s Most Valuable Company. What Happened?

It has been a stunning fall from grace for Exxon Mobil Corp.

Just seven years ago, Exxon was the biggest U.S. company by market capitalization. It has since lost roughly 60% of its value, with its market cap now at around $160 billion, after the pandemic crushed demand for fossil fuels.

Analysts estimate Exxon will lose more than $1 billion…

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