{"id":571021,"date":"2023-04-21T10:33:59","date_gmt":"2023-04-21T05:03:59","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=571021"},"modified":"2023-04-21T10:33:59","modified_gmt":"2023-04-21T05:03:59","slug":"tesla-shares-sink-as-musk-signals-more-price-cuts-ahead","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/tesla-shares-sink-as-musk-signals-more-price-cuts-ahead\/","title":{"rendered":"Tesla shares sink as Musk signals more price cuts ahead"},"content":{"rendered":"<p>Tesla Inc&#8217;s shares sank 8% on Thursday and dragged down other automakers after Chief Executive Elon Musk signalled the electric-vehicle maker will keep cutting prices to drum up demand even after taking a big hit to profitability.<\/p>\n<p>Tesla shares were trading at $168 before the bell, with at least 15 analysts lowering their price targets on the stock. The company was set to lose nearly $50 billion in market value, if losses hold.<\/p>\n<p>&#8220;Facing a volatile macroeconomic backdrop and weakening demand, Tesla continues to prioritize units over near-term profits,&#8221; said analysts at Canaccord Genuity.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tesla Inc&#8217;s shares sank 8% on Thursday and dragged down other automakers after Chief Executive Elon Musk signalled the electric-vehicle maker will keep cutting prices to drum up demand even after taking a big hit to profitability. Tesla shares were trading at $168 before the bell, with at least 15 analysts lowering their price targets on the stock. The company was set to lose nearly $50 billion in market value, if losses hold. &#8220;Facing a volatile macroeconomic backdrop and weakening demand, Tesla continues to prioritize units over near-term profits,&#8221; said analysts at Canaccord Genuity.<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,246,137],"tags":[],"class_list":["post-571021","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/571021","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=571021"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/571021\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=571021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=571021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=571021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}