News Snapshot:
Shares of Tesla fell by more than 9% at the start of trading on Wall Street on Thursday — wiping out $50 billion in market cap — a day after the world’s most valuable electric carmaker reported flat fourth-quarter earnings and warned that growth in 2024 “may be notably lower.” CEO Elon Musk, who owns a 13% stake in the EV maker and has demanded an increase to 25%, pointed to a price war with a Chinese-made rival for hurting the bottom line. On Wednesday, Tesla reported a gross margin of 17.6% for the three months ended December, compared with...
