Tesla Sinks After Warning About ‘Notably Lower’ Growth Rate (3)

Tesla Inc.shares plunged after Elon Musk’s pitch for investors to look past slower sales growth fell flat.

The stock fell as much as 10% on Thursday morning after Tesla narrowly missed earnings estimates and warned its rate of expansion will be “notably lower” this year. The company spent all of 2023 cutting prices to boost sales, which ate into profits.

The effectiveness of that strategy is waning, and executives cautioned they’re approaching the limits of efforts to cut costs on the current vehicle lineup.

“Tesla is signaling that the days of 50% or even 30% to 40% growth ...