Tesla 'is increasingly looking like a regular auto company,' says one analyst

’s price cuts this year show customers are no longer willing to pay a premium for its vehicles. That raises a key question on Wall Street: Does its lofty stock-market valuation make sense anymore?

Pricing tension is a broader issue facing Corporate America, with companies testing consumer spending fatigue. Some companies are weathering it better than others. Netflix Inc., for example, had a surge in subscribers that enabled the streaming-service provider to raise prices for a large swath of customers.

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