Tesla Motors Inc
As recently as
Traders began dumping the stock on what seemed to be a major delivery delay, but a Tesla spokesperson quickly dispelled the rumors.
“Today’s website update does not reflect any change in our plans. We still plan to begin Model 3 deliveries in 2017, and we adjusted the delivery date on our marketing page to reflect more accurate timing for new/future reservation holders,” the spokesperson
The statement sent Tesla shares whipping back above $198 within a matter of minutes.
Tesla is currently valued at more than 60 percent the market cap of General Motors Company
Tuesday’s false alarm shows just how much headline risk is currently associated with the pricey stock, especially when it comes to Model 3 guidance.
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