Tesla's "Battery Day" Is a Dud; Stock Tumbles

Followers of Tesla (NASDAQ: TSLA) were eagerly anticipating the company's much-hyped "Battery Day" on Tuesday, expecting news of major developments in the electric-car maker's signature technology. What they got was a list of upcoming improvements and promises that may pay off one to three years down the road.

Disappointed shareholders began to question the company's lofty valuation and sold off the stock. By 11:53 a.m. EDT Wednesday morning, Tesla's shares were down more than 9%, dropping below $400 for the second time this month.

Image source: Tesla.

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Source Fool.com