Musk's sales warning shaves off $80b from Tesla's valuation

Musk's sales warning shaves off $80b from Tesla's valuation

FILE PHOTO: A Tesla logo is pictured on a car in the rain in the Manhattan borough of New York City, New York, U.S., May 5, 2021. REUTERS/Carlo Allegri/File Photo

Tesla tumbled over 12% on Thursday after CEO Elon Musk warned sales growth would slow this year despite price cuts that have already hurt margins at the world’s most valuable automaker and fueled investor concerns about soft demand and Chinese competition.

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