Elon Musk

  • Tesla shares made session lows after a report said Amazon has invested in the self-driving startup Aurora Innovation. 
  • Shares were down more than 4%.
  • Watch Tesla trade live.

Tesla slid to session lows Thursday morning after a report said Amazon has invested in a self-driving startup.

Shares were down more than 4% to near $304.12 apiece after Bloomberg reported the self-driving startup Aurora Innovation has raised $530 million from a group of investors that includes the venture-capital firm Sequoia Capital and has financial backing from Amazon and T. Rowe Price.

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Thursday’s selling has Tesla shares flirting with their lowest close since January 29, the day before the electric-car maker’s fourth-quarter earnings report.

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Tesla reported mixed fourth-quarter results that missed on the top line but beat on the bottom line. It was, however, the first time the electric-car maker reported back-to-back quarterly profits. And on the earnings call, CEO Elon Musk said the company would be profitable for “all quarters going forward.”

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Earlier in January, Tesla announced it was laying off about 7% of its workforce, or more than 3,000 employees, as it looked to achieve a profit and make the Model 3 more affordable.

Tesla shares were down 4.7% through Wednesday. 

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