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Tesla shares plummet after Elon Musk promises ‘hardcore’ cost-cutting

bizjournals Friday, 17 May 2019
Shares of Palo Alto-based Tesla plunged 7.5 percent today to a new two-year low, after CEO Elon Musk promised employees that the company would undergo “hardcore” cost-cutting measures to stay solvent. Shares closed at $211.03, a price it hasn’t seen since December 2016. The stock traded as high as $375 per share in December, but has since slid about 43 percent. In a new all-hands memo, Musk said he’d order every team to examine every payment, have CFO Zach Kirkhorn review and sign every…
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News video: Here's Why Tesla Bulls are Unshakeable

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Another day, another Tesla headline. The company's shares were indicated sharply lower Monday, extending the stock's year-to-date decline past 40% and sliding under the $200 mark, as analyst at Wedbush raised further concerns over underlying demand for the carmaker's flagship Model 3. Wedbush...

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