Ouch! Why Tesla, Inc. Stock Got Slammed Thursday

Shares of Tesla (NASDAQ: TSLA) fell as much as 8.9% on Thursday, in the aftermath of the company's third-quarter earnings release. The stock is down about 7% at the time of this writing.

The stock's decline likely reflects disappointment in the company's wider-than-expected loss per share and an approximately three-month delay for Model 3 production. Tesla reported a non-GAAP loss per share of $2.92, worse than its non-GAAP gain per share of $0.71 in the year-ago quarter and worse than a consensus analyst estimate for a loss of $2.31.

Tesla Model 3 units ready for delivery. Image source: Tesla.

Source: Fool.com