Tesla shares slide 13% as Musk warns over sales growth 

Thursday’s slump is the steepest intraday drop in three months, and the stock is now trading at its lowest since May

Tesla spent 2023 cutting prices to boost sales. The effectiveness of that strategy, which ate into profits, is waning.

Tesla shares plunged after Elon Musk’s pitch for investors to look past slower sales growth fell flat.

The shares fell as much as 13% on Thursday after Tesla narrowly missed earnings estimates and warned its rate of expansion will be “notably lower” this year.