Tesla's stock gets slammed again as Musk reportedly grabs control of Model 3 manufacturing [Los Angeles Times (CA)]
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Source: Los Angeles Times
Tesla's stock gets slammed again as Musk reportedly grabs control of Model 3 manufacturing Tesla Inc. stock plummeted again Monday on a report that Tesla will not meet its first quarter Model 3 production goals and that Chief Executive Elon Musk will take over Model 3 manufacturing. That followed a full week of bad news for Tesla, including a big recall of Model S cars and an investigation into a fatal Autopilot-related crash of a Model X SUV. Tesla shares slid more than 7% before recovering to close down 5% to $252.48. They have sunk about 19% this year. This week, the automaker is set to report production figures. An internal memo to Tesla factory workers, first reported by Bloomberg , asked for volunteers last week to come off the Model S and Model X production lines to help out with Model 3 production and disprove the "haters" betting against the company. Meantime, The Information , quoting two unnamed sources, reported Monday that Musk has taken over Model 3 manufacturing, pushin
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