Tesla shares fell Friday after the electric-car maker unveiled its long-awaited Model Y SUV. Wall Street's reaction was tepid.
Some analysts were concerned that the Model Y could claw demand away from the Model 3.
And Jed Dorsheimer, a bullish Tesla analyst at Canaccord Genuity, added:"Tesla unveils the Model Y but event may fall shy of whisper expectations." "Which begs the question, why show the vehicle now?" he wondered in a note to clients."We would have thought the reveal would have been closer to start of production. Will some potential M3 buyers wait?". The standard version of the Model Y is set to arrive in 2021, and will begin at $39,000. The three pricier versions of the vehicle will start between $47,000 and $60,000, and will begin shipping in 2020.
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