- Tesla announced Model 3 deliveries that were well shy of Wall Street estimates.
- The auto maker also slashed its Model 3 production target for the first quarter.
- Shares are down about 2.5%.
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Tesla slides after missing Model 3 deliveries by a mile (TSLA)
Tesla shares are down more than 5% ahead of Thursday's opening bell.
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Tesla shares are sliding Thursday, down 2.54% at $309.19, after the company reported fourth-quarter Model 3 deliveries that missed estimates by a mile.
The electric-car maker said it delivered 1,550 Model 3 sedans in the fourth quarter, a bit more than half of the 2,917 that Wall Street analysts were expecting. Tesla produced 2,425 sedans during the period.
That number fell well short of Elon Musk's promise of producing 20,000 Model 3 sedans per month beginning in December. "
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