weekday mornings: Justin Tallis / AFP - Getty Images file Breaking News Emails Get breaking news alerts and special reports, according to MSNBC. The news and stories that matter, delivered weekday mornings.SUBSCRIBEJan. 18, 2019, 9 15 PM GMTBy Paul A. Eisenstein Investors punished Tesla on Friday after embattled CEO Elon Musk announced thousands of layoffs and admitted the company's electric cars are overpriced, sending the stock down 13 percent to 302 by the end of the trading day. Tesla electric cars are charged at a Tesla Supercharger station, in Westfields shopping center in west London on Dec. 19, 2017. While we have made great progress, our products are still too expensive for most people, Tesla's 47-year-old CEO said in a letter delivered to the automaker's workforce early on Friday. It's a remarkable comedown for the high-flying stock whose company has suffered both from production struggles and the erratic behavior of its CEO. In September, Musk was forced to step down as chairman by the SEC and pay a 20 million fine for misleading investors in a tweet that he'd secured funding for a buyout of the company. In it, he warned that the road ahead is very difficult, and critical steps must be taken to assure Tesla's continued viability.
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