Tesla set to open at its lowest price since June (TSLA)
- Tesla is down about 1.3% in early trading Wednesday, pointing to the stock's lowest open since June 1.
- Two negative analyst reports Tuesday pushed the stock below $300.
- Separately, CEO Elon Musk doubled-down on criticism of a British rescue diver he has accused of being a pedophile.
- Follow Tesla's stock price in real-time here.
After falling 4.2% in trading Tuesday, shares of Tesla kept falling in after-hours trading and are set to open at $285 Wednesday, their lowest price since June 1.
With CEO Elon Musk’s 16-day go-private saga now more than a week behind it, the company is facing increased pressure on its fundamentals from investors and analysts. Goldman Sachs on Tuesday reiterated its skepticism, saying that a double-whammy of increased competition and ending tax credits could be a problem for Tesla.
"Tesla is losing the US tax credit ahead of competition, posing further challenges to affordability at a time when competition is intensifying," Tamberrino said in a note to clients Tuesday, re-instating his sell-rating after briefly suspending coverage.See the rest of the story at Business Insider
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