Tesla's ‘Amateur Hour’ Backpedaling Prompts Analyst Head-Shaking

Tesla Inc.’s abrupt about-turn in the decision to shutter stores and slash prices raise questions about management decisions at the electric-vehicle maker, analysts covering the stock said.

In a blog post published on Sunday, Tesla said it would now keep significantly more stores open than previously announced and, as a result, raise the price of its cars by about 3 percent worldwide. The original plan of winding down most stores came Feb. 28 and was described as a cost-cutting move by Chief Executive Officer Elon Musk.