Tesla Drops Over 5%
Description
On Wednesday, Tesla shares fell as much as 7%.
The dip came after Tesla's "Battery Day" event missed expectations.
Investors are questioning the company's lofty stock price.
CEO Elon Musk unveiled new manufacturing processes on Tuesday set to slash Tesla's battery costs.
The new lower battery costs would allow for the production of a $25,000 electric car in the next three years.
Business Insider reports the event lacked any news of the million-mile battery "widely expected" by Wall Street and Tesla shareholders.
The dip came after Tesla's "Battery Day" event missed expectations.
Investors are questioning the company's lofty stock price.
CEO Elon Musk unveiled new manufacturing processes on Tuesday set to slash Tesla's battery costs.
The new lower battery costs would allow for the production of a $25,000 electric car in the next three years.
Business Insider reports the event lacked any news of the million-mile battery "widely expected" by Wall Street and Tesla shareholders.
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