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Tesla was down 0.54% early Monday after the company hit the brakes on its plan to shutter its stores.
A Chinese news agency reported Tuesday that officials in Shanghai had blocked the import of 1,600 Model 3 cars.
Tesla is ‘out of bullets’ and will plunge below $100 this year, former hedge-fund manager Whitney Tilson says
Tesla will tank to below $100 by the end of this year, the former hedge fund manager Whitney Tilson said.
The guidance comes the same afternoon as Tesla said the $35,000 version of its Model 3 was finally available for preorder.
Tesla fell 3.14% to $289.40 a share early Tuesday after the SEC said CEO Elon Musk violated the terms of his agreement with the agency.
T. Rowe Price, formerly Tesla's largest institutional shareholder, cut its stake in half in the fourth quarter, according to a filing on Monday.
Tesla will see its 2019 free cash flow to be negative and will need to raise $2.5 billion equity capital in the third quarter, Morgan Stanley said.
Tesla shares plunged 17% in the wake of the company's layoffs, and millennial investors are piling into the stock.
Tesla CEO Elon Musk sent a letter to employees informing them the company was cutting 7% of its workforce, sending shares down more than 6%.
Tesla shares rallied early Monday after the electric-car maker kicked off the construction of its Gigfactory in Shanghai, China.