Tesla reported lower-than-expected results for the third quarter, with sales reaching $23.35 billion, missing the forecasted $24.19 billion. Net profits also fell short at 66 cents per share instead of the expected 73 cents. Elon Musk’s price cuts on vehicles to increase sales have made investors nervous, causing Tesla’s share price to slide. However, Tesla’s stock valuation still surpasses other US car makers, and it has doubled in 2023.
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