⚠️BREAKING: *DOW TUMBLES 200 POINTS AS EARNINGS FEARS MOUNT; TESLA $TSLA PLUNGES 11% $DIA $SPY $QQQ $IWM $VIX 🇺🇸🇺🇸
The concerns over margins intensified after the chief executive Elon Musk touted more cost cuts to boost sales, forcing some cautious commentary from Tesla bull Wedbush.
“[W]e remain very bullish on the Tesla story, however, this margin compression and price cut narrative must be carefully managed over the coming quarters as it now emerges as a clear overhang on the stock,” Wedbush said in a note after cutting its price target on the stock to $215 from $225. Tesla’s willingness to sacrifice margins for long-term demand gain stoked fears of a price war in the industry, pushing other automakers including General Motors Company (NYSE:
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