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Tesla Stock Plunges While Analysts Question Model 3 Pricing Plan | Barron’s

Some Wall Street analysts are not wild about Tesla ’s (ticker: TSLA) new pricing and selling strategy.

The back story: On Thursday, Tesla announced it will begin selling a Model 3 sedan with a base price of $35,000, fulfilling its long-held promise to sell the vehicle at the price point.

The company also said it wouldn’t be profitable in the current quarter, but projected its second quarter would end in the black. The car maker also announced a move to an all-online sales model and unveiled additional price cuts for its Model S and X vehicles.

What’s new: Needham analyst Rajvindra Gill reiterated his Underperform rating for Tesla shares, citing rising profitability risk from the new pricing moves.

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Tesla Stock Plunges While Analysts Question Model 3 Pricing Plan – Barron’s.

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