HMM: Tesla’s big price cuts mean ‘a major shift in the EV market.’ “Analysts who spoke to The Verge on Friday stressed the significance of these cuts and said they may have profound effects not just on Tesla’s brand but on the increasingly competitive EV game. Some even said this could be the first shot in a looming EV ‘price war,’ even as automakers struggle to source enough materials to put these cars on the road en masse.”

TSLA shares had been priced (before they crashed) as though Tesla were a tech startup with unlimited growth potential. But it’s a carmaker and subject to the same market pressures as any other.