Guest essay by Eric Worrall
Elon Musk’s Tesla shares have plunged in value this week. Analysts cite competition and production concerns.
Tesla’s Stock Selloff Messes Up Musk’s Big Week
By Dana Hull
8 July 2017, 02:47 GMT+10
- Execution and competitive risks cloud cheaper car’s arrival
- Stock is on course for its worst week since February 2016
This was supposed to be Elon Musk’s big week, capped by Tesla Inc.’s first Model 3 sedan rolling off the assembly line. Instead, shares that had been riding high in anticipation of his most consequential car yet are poised for their worst week in almost a year and a half.
A troublesome quarterly sales report, the emergence of competing electric vehicles from the likes of Volvo Car Group and lingering concern about Tesla’s ability to mass produce have sent its stock down 13 percent this week. Modest gains in Friday trading still have…
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