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The Ratings Game: Tesla’s introduction to the Model Y underwhelms and stock promptly falls

Tesla Inc.’s newly revealed Model Y has failed to excite Wall Street, with some investors saying the unveiling of the crossover vehicle played out like an infomercial that sought to mask weaker Model 3 demand and a cash grab.

Tesla TSLA, -5.01% shares lost 5% on Friday to close at their lowest since Oct. 22. They are down more than 6% from the moment that Chief Executive Elon Musk announced the vehicle’s unveiling date on Twitter, and off nearly 30% from a September 2017 record high.

The crossover starts at $47,000 and ordering one requires a $2,500 deposit, which is more than what Tesla required at the time of the Model 3 reveal.

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