Shares of Tesla were down more than 5% on Friday, the morning after the company announced new all-wheel drive models.
At an event in Los Angeles on Thursday night, Tesla CEO Elon Musk announced the new model, which has three settings: Normal, Sport, and Insane.
Business Insider’s Matthew DeBord has the full report from the event.
In response, the market appears to be “selling the news,” which followed a cryptic tweet from Musk on October that it was “about time to unveil the D and something else.”
Tesla shares were trading at about $US245 on Friday morning, about $US40 below where they were when Musk said the stock was overvalued back in early September.