Tesla shares hit by Consumer Reports criticism [Reuters (UK)]
Tesla, Inc. (TSLA)
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Source: Reuters
Tesla shares hit by Consumer Reports criticism | Reuters 2 Min Read (Reuters) - U.S. consumer bible Consumer Reports stopped short of recommending Tesla Inc’s ( TSLA.O ) Model 3 electric car on Monday, criticizing it for its braking and taking the shine off a day of gains for shares in billionaire Elon Musk’s venture. Musk had driven shares in the electric carmaker higher with a weekend twitter discussion which argued the company should focus more initially on delivering higher-priced fully-loaded editions of the Model 3 sedan. That car is seen as crucial to Tesla’s profitability at a time when it is battling reports of crashes involving its vehicles, a shortage of cash and production problems. Consumer Reports, however, declined to recommend the Model 3 and criticized it for having overly-long stopping distances and difficult-to-use controls. Tesla shares were last up 2.5 percent at $283.90, having risen more than 4 percent after investors were encouraged by Musk’s $78,000 price ta
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