 Tesla announced its earnings Wednesday. They missed earnings and sales estimates. Musk said, we have to make our cars more affordable, hinting that more price cuts might be on the way. Definitely something investors did not want to hear. Tesla took all of the margin cushion that they have had as a result of selling these cars at a really high price. Use that margin cushion and the super high stock price to finance massive price cuts on every model, and particularly the Model 3. Competition has come for them. First mover advantage doesn't last forever, and there's plenty of stories out there of the company who did at first disappearing or being acquired by an incumbent company. I mean, look at all the dot-coms that traditional media gobbled up and turned into their own thing.