(RTTNews.com) - Shares of Tesla Inc. ( TSLA ) have moved sharply lower during trading on Monday, extending the sell-off seen over the past several sessions. Tesla is currently down by 6.8 percent after hitting its lowest intraday level in a month.
Tesla came under pressure early in the session on news the electric car maker has sled prices on its Model 3 by more than 7 percent in China. The starting price for a Model 3 in China is now 499,000 yuan or $72,000.
According to a report from Reuters, the price cut marks the third time in the last two months that Tesla has adjusted its prices in China.
Read the original article on RTTNews (http://www.rttnews.com/2965261/tesla-posting-steep-loss-on-price-cut-in-china.aspx)
For comments and feedback: contact firstname.lastname@example.org
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.