Bears Steer Tesla Lower

Model 3 maker’s stock hit as U.S. lawmakers target $7,500 electric-vehicle tax credit

While Tesla Inc. bulls and bears remain at at odds over the question of how delays in Model 3 production will affect the company’s financials, investors are making their position clear. The automaker’s shares plunged almost 9 percent Thursday, trading below the 200-day moving average for the first time since January as the possibility that the electric-vehicle tax credit of $7,500 per car may be repealed further pressured the stock. Shares have tumbled 22 percent from a record high on Sept. 18.

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