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MarketWatch First Take: Tesla’s bad week gets worse as Elon Musk’s credibility takes another hit

Overpromising by Tesla Inc. Chief Executive Elon Musk does not usually faze his die-hard fans and investors.

But that ended this week, when a trifecta of bad news began to hit the stock. Tesla TSLA, -5.58% shares wove in and out of bear territory Thursday, at one point during the trading day falling 20% off its record high of $383.45 reached on June 23.

It started with Musk’s update late Sunday that the number of cars Tesla delivered in the second quarter was below Wall Street’s estimates, due to a severe battery production shortage. Then Thursday, Tesla was not included in the latest “Top Safety Pick” list of the safest cars.

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