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Tesla Falls After Analyst Calls Its Cash Burn ‘Eye Watering’

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Tesla Tumbles on Morgan Stanley Cash Call

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Tesla Motors Inc. fell Thursday after Morgan Stanley said the company’s “eye watering” use of cash puts more pressure on a good production start for the Model X sport utility vehicle.

Shares of the electric-car maker led by Chief Executive Officer Elon Musk fell 2.1 percent to $225.68 at 9:37 a.m. New York time. The shares had gained 3.6 percent so far this year through Wednesday, outpacing the 1.4 percent gain by the Russell 1000 Index.