Why Tesla Stock Is Sliding Premarket Today
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ:TSLA) shares were slipping in premarket trading after the company introduced a cheaper Model Y variant in the U.S. market. The new Model Y rear-wheel drive version is priced at $43,990, which is 7.9% cheaper than the previously withdrawn all-wheel drive version. The price cut has raised concerns about the company's margins.
October 03, 2023 | 11:13 am
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Tesla's introduction of a cheaper Model Y variant has led to a slip in its premarket shares. The 7.9% price cut has raised concerns about the company's margins, potentially impacting the stock negatively in the short term.
The introduction of a cheaper Model Y variant has led to a decrease in Tesla's premarket shares. The 7.9% price cut suggests that the company's margins could be in danger, which is a negative signal for investors. This could lead to a decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100