Shares of Tesla are under pressure on Thursday after the company reported a wider than expected first quarter loss and said that it burned through hundreds of millions of dollars. Thursday's selling has pushed Tesla shares below the $300 level for the first time in three weeks.
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Tesla tumbles below $300 (TSLA)
Short sellers have lost more than $3 billion betting against Tesla so far in 2017.
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Following Wednesday's closing bell, Tesla said it lost $1.33 per share during the first quarter, worse than the $0.82 loss that Wall Street analysts surveyed by Bloomberg were expecting.
The company also said that it burned through
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