Tesla's cost reductions promise success for the company's future: ARK Invest analyst

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Tesla stock is down 10 percent after CEO Elon Musk warned it might take more time to develop a cheaper, more efficient battery for its electric cars. The company is aiming to sell a $25,000 electric vehicle in three years. Sam Korus, who attended Tesla’s annual meeting yesterday, joins ‘Closing Bell’ to discuss the key takeaways. Subscribe to CNBC PRO for access to investor and analyst insights on Tesla and more:

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