(Bloomberg) — Tesla Inc.’s overnight price cuts suggest the coronavirus is putting a bigger damper on demand than has been reflected in the electric-car maker’s share price, two analysts said.The $5,000 reductions for the Model S and X and $2,000 cut for the Model 3 were an “acknowledgment that Tesla isn’t immune to material North American demand weakness,” Craig Irwin, an analyst at Roth Capital Partners, said in a report Wednesday.“With the stock trading in the stratosphere,” Roth wrote, “the key question is, ‘Can Tesla continue to deliver an interesting growth rate in the U.S.?’”Credit Suisse’s Dan Levy said the discounts change the narrative around the company’s volume this quarter. Prior to the price cuts, investors were concerned that demand would be limited by tight inventory. The company shut down production at its lone U.S. auto plant on March 23 and rushed to reopen the facility — initially without local authorities’ permission — in mid May.Tesla shares slumped as much as 4.1% and were down 2.3% to $800 as of 11:30 a.m. in New York. The stock has soared more than 90% this year.Read more: Costly Electric Vehicles Confront a Harsh Coronavirus RealityFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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The coronavirus hit retailers hard, causing businesses to file for bankruptcy across the world. Peter Kaufman, Gordian Group President joins Yahoo Finance’s On The Move panel to weigh in on the differences between chapter 7 and chapter 11 bankruptcy.

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Brown Advisory recently released its Q1 2020 Investor Letter, a copy of which you can download below. The Large-Cap Growth Fund posted a return of -13.05% for the quarter, outperforming its benchmark, the Russell 1000 Growth Index which returned -14.10% in the same quarter. You should check out Brown Advisory’s top 5 stock picks for […]

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