Tesla sees stock market swoon; coronavirus blamed for car delivery delays

Investors put the brakes on Tesla’s recent wild stock surge, and drove the company’s shares down more than 17% on Wednesday in the wake of the electric carmaker saying the coronavirus outbreak in China will cause it to delay deliveries of Model 3 cars made at its production plant in Shanghai.Tesla shares fell by $152.36, to close Wednesday at $734.70 after a company official in China said that early February deliveries of Model 3 cars built at Tesla’s Shanghai Gigafactory will be delayed due to the coronavirus situation in the country. According to CNBC, Tao Lin, vice president of Tesla in Chi…

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