On Sunday, Tesla CEO Elon Musk announced the launch of Model Y, a new addition to the company's SUV line, and the Tesla V3.0 Supercharger Station, which could relieve some pressure on the company.

HOW MODEL Y LAUNCH COULD ALLEVIATE PRESSURE ON TESLA

The decision of the company to bring down the price point of the Tesla Model 3 to $35,000 was met with mixed reactions from both Tesla owners and Wall Street analysts.

Former General Motors Vice Chairman Bob Lutz said on CNBC's Squawk Box that the decline in the price of its flagship vehicle could present profitability issues for the company in the near-term.