Friday, July 07, 2017

Tesla Loses No. 1 Spot in Market Value Among U.S. Automakers - The New York Times

In other Tesla news: South Australia announces Tesla as backer of world's largest battery (Sydney Morning Herald) and Why Tesla needs the Model 3 to thrive in a future it helped create (The Washington Post)
"But a spate of negative news this week has brought the electric-car maker’s many challenges into focus, especially its ambitious plans to ramp up production of its first mass-market offering, the Model 3, which begins rolling off the assembly line on Friday.

With investors shying away, Tesla has seen its shares fall by almost 17 percent since Monday’s intraday high, to $308.89, including a 5.6 percent drop on Thursday. That reduced the company’s market capitalization to $50.7 billion, according to Bloomberg, and put G.M. ahead once again, at $52.6 billion."
Tesla Loses No. 1 Spot in Market Value Among U.S. Automakers - The New York Times
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