Tesla: market reaction muted after 35,000 dollar Model 3
(CercleFinance.com) - Tesla shares were down over 6% on Friday after the Californian electric carmaker yesterday announced that it has started selling its 35,000 dollar Model 3.
The vehicle has a range of 220 miles, a top speed of 130 mph and can reach 60 mph in 5.6 seconds, the company said.
However, in order to achieve these prices and to remain "financially sustainable," Tesla has decided to shift sales to online only, meaning that stores will close.
"Elon Musk also mentioned he expects a loss in the first quarter and sees profitability in second quarter as likely," one analyst noted.
The market clearly didn't like these announcements. In New York, the Tesla share was falling 6.1% at 300.3 dollars in early trading Friday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The vehicle has a range of 220 miles, a top speed of 130 mph and can reach 60 mph in 5.6 seconds, the company said.
However, in order to achieve these prices and to remain "financially sustainable," Tesla has decided to shift sales to online only, meaning that stores will close.
"Elon Musk also mentioned he expects a loss in the first quarter and sees profitability in second quarter as likely," one analyst noted.
The market clearly didn't like these announcements. In New York, the Tesla share was falling 6.1% at 300.3 dollars in early trading Friday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.