Tesla shares are tumbling today, the same day a federal judge will consider whether Musk violated an SEC settlement
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Shares of the company were down about 9%, falling more than $25 to about $266.90 in morning Nasdaq trading. The SEC hearing takes place today at 2 p.m. at the federal court for the Southern District of New York. . “Because of the lower than expected delivery volumes and several pricing adjustments, we expect Q1 net income to be negatively impacted. Even so, we ended the quarter with sufficient cash on hand.”lower-priced versions of the Model S and X
Despite the disappointing delivery results, Tesla said Model 3 remained the best-selling mid-sized premium car in it’s still targeting full-year deliveries of between 360,000 and 400,000 vehicles. The company also said U.S. orders for Model"significantly outpaced what we were able to deliver in Q1."
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