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Tesla's 'Stealthbomber' Cybertruck Fails to Thrill Wall Street
Posted
November 22, 2019
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2,000
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November 22, 2019
2,000
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1:45Now PlayingTesla Inc. slumped on Friday after the electric carmaker’s newly unveiled pickup truck elicited mixed response on Wall Street, with many analysts saying the “particularly futuristic” design may relegate it to niche vehicle status.
While the $39,900 starting price was below what the Street expected, Cowen analyst Jeffrey Osborne said that lowest-priced variant may never see the light of day. However, the pickup truck’s range and towing capacity were largely seen as “surprisingly strong.”
Tesla shares fell as much as 6.3% in New York, the biggest intraday drop since Oct. 3.
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