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Tesla: Tesla changes course, will keep more showrooms open, Auto News, ET Auto

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FILE- In this Feb. 9, 2019, file photo, a sign bearing the company logo is displayed outside a Tesla store in Cherry Creek Mall in Denver. Tesla said in a statement late Sunday the new plan will mean a three percent rise in the cost of the vehicles, but won't apply that to the lowest-priced Model 3, which is being sold for $35,000. "As a result of keeping significantly more stores open, Tesla will need to raise vehicle prices by about three percent on average worldwide," the statement said. Tesla made the announcement on February 28 that it would begin selling its mass-market Model 3 at the promised $35,000 price, and close most of its retail locations to cut costs. But the company led by Elon Musk said that after review, it had decided to keep some of its showrooms, although the specifics were not disclosed.

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Tesla: Tesla, Elon Musk win dismissal of lawsuit over Model 3 production, Energy News, ET EnergyWorld

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SAN FRANCISCO: A federal judge in San Francisco dismissed for the second time a securities fraud lawsuit brought by Tesla Inc shareholders alleging that the company made misleading comments about the production status of its Model 3. U.S. District Judge Charles Breyer sided with Tesla, granting the electric vehicle company dismissal of the lawsuit brought in October 2017. It said shareholders bought "artificially inflated" shares because Musk and other executives misled them with bullish statements about the production ramp of the Model 3, failing to disclose that the company was "woefully unprepared" for the vehicle's production. Tesla argued in its defence that it had been forthcoming about challenges with Model 3 production, including repeated statements by Musk that Tesla was undergoing "production hell."

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Tesla, Elon Musk win dismissal of lawsuit over Model 3 production

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Tesla, Elon Musk win dismissal of lawsuit over Model 3 production. SAN FRANCISCO (Reuters) - A federal judge in San Francisco dismissed for the second time a securities fraud lawsuit brought by Tesla Inc shareholders alleging that the company made misleading comments about the production status of its Model 3. U.S. District Judge Charles Breyer sided with Tesla, granting the electric vehicle company dismissal of the lawsuit brought in October 2017. It said shareholders bought "artificially inflated" shares because Musk and other executives misled them with bullish statements about the production ramp of the Model 3, failing to disclose that the company was "woefully unprepared" for the vehicle's production.

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Tesla (TSLA) Dips More Than Broader Markets: What You Should Know

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Tesla (TSLA) Dips More Than Broader Markets: What You Should Know. In the latest trading session, Tesla (TSLA) closed at $260.32, marking a -1.59% move from the previous day. Heading into today, shares of the electric car maker had lost 9.17% over the past month, lagging the Auto-Tires-Trucks sector's loss of 4.92% and the S&P 500's gain of 0.52% in that time. Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.26 per share and revenue of $28.47 billion.

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Tesla, Elon Musk win dismissal of lawsuit over Model 3 production

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Tesla, Elon Musk win dismissal of lawsuit over Model 3 production. ReutersMarch 25, 2019, 8:18 PM GMT. SAN FRANCISCO (Reuters) - A federal judge in San Francisco dismissed for the second time a securities fraud lawsuit brought by Tesla Inc shareholders alleging that the company made misleading comments about the production status of its Model 3. U.S. District Judge Charles Breyer sided with Tesla, granting the electric vehicle company dismissal of the lawsuit brought in 2017. Breyer dismissed the original lawsuit in August but allowed plaintiffs to file an amended one. What to read next.

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Tesla Stock Breaks Down to Key Support as Growth Slows

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Tesla shares moved lower during Monday's session after an industry report pointed toward a potential slowdown in vehicle registrations.

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Tesla Stock Is Having a Brutal Month and It Could Get Worse

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It’s been a rough month for (TSLA) stock. Tesla stock (TSLA) is off more than 18% in March as investors have absorbed no shortage of news. On Monday, Tesla stock dropped 1.5%, to $260.57 per share, as investors looked ahead to an expected first-quarter production and deliveries report.

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Tesla Stock Falls On Concerns Of Weakening Model 3 Demand

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A Wall Street analyst cut his estimate on first-quarter deliveries of the Tesla Model 3 about 8%. He cut his price target on Tesla stock to 210, from 245, with a rating of underperform.

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Tesla Faces the Risks of a Dominant CEO

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Tesla turned its first profit in the third quarter of 2018 and posted one again in the fourth quarter. If you had been lucky to buy 1,000 shares of Tesla when it went public at $17 in 2010, it would be worth around $265,000 now, a compound annual return of more than 120% a year. But the stock is off more than 20% this year after rising about 7% in 2018. Musk disagrees and it now appears that Musk has been tweeting about Tesla regularly before showing anyone anything. So, the SEC asked the judge overseeing their case to hold Musk in contempt. A very big and real issue for many stockholders is if the SEC will force Musk out of the company - because Tesla is Musk. If there's no Musk, who runs the show? And what happens to his stock, around 25% of the outstanding shares. That helps explain this reality.The 29 analysts polled on Tesla by Investing.com have a consensus 12-month price target of $329.28, up 24.5% from Friday's close of $264.53. But 11 analysts say the stock is a buy, with one seeing the stock hitting $500.

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There’s No Middle Ground for Tesla (TSLA) Stock

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Tesla (TSLA) could finally be turning the corner on profitability as the business is delivering Model 3 in volume. In Q4’18 and Q3’18 Tesla reported two consecutive profitable quarters of $0.78 and $1.75 GAAP Dil. EPS, respectively. What shareholders are hoping for in the next couple quarters is a seamless production ramp for its Model 3 that shouldn’t hamper profitability but should instead drive volume profits at similar margins. Most car companies still have tons of dealerships out and about everywhere you drive in any major city with big signs and expansive service centers as well. So, it can’t completely bail on the idea of having a store footprint even if it wanted to. What Tesla’s likely abandoning are the non-performing stores with low traffic, and probably a greater shift towards service centers where vehicle maintenance and various other services are actually done. Even the deliveries get picked-up at the Tesla Service Centers, so the emphasis on stores has gone down, they have 378 locations according to their Q4’ call, so maybe they reduced the number of stores by 30 locations at this point. However, they continue to maintain the Service Center count at 120 according to their support website. So, they might have 250 retail locations they could probably reduce by 50 or 60 locations, but they’ll likely open more service centers in Mainland China where they integrate their Asian supply chain for Asian market deliveries for Southeast Asia like Korea and Japan which they already ship to. So more new openings of Service Centers, but also closings of retail looking stores.

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