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One of Tesla's Biggest Skeptics Says Buy on Recent Dip

14 September, 2018, 23:58 | Author: Rafael Roberts
  • Tesla shares slip as analyst calls company

Separately, the electric vehicle maker is dropping two of the seven standard colors it had offered to customers as it tries to streamline production.

Shares of the company, which closed up 8.5 per cent at $285.50 on Monday after two brokerages said it could meet its production targets for the second half of the year, fell almost 2 per cent before the bell on Tuesday. But the real story may be the steep decline in the value of the electric auto maker's bonds.

But he wasn't joking or trying to bloat Tesla fans' confidence in the company.

With the worst of the problems seemingly behind Tesla, it seems that they should be well on their way to finally fulfill their ambitious targets as long as they can stay out of trouble. While the potential of the $35,000 Model 3 is vast, Tesla and even CEO Elon Musk have been quite conservative when releasing updates about the upcoming electric sedan.

Tesla's Gigafactory, its lithium-ion battery-production facility, "creates a significant barrier for competition and manufacturing capability" that should benefit Tesla over the long term, Kallo and Katter said. Musk says it requires the entire paint shop to halt while batches of cars are painted.

Though the company has faced production issues, concerns about financial health, a reported investigation from the SEC, and questions about the decision-making of Musk. A week later, shares plunged again after Musk said the go-private plan was abandoned, and they fell one more time last Friday when Musk was caught smoking marijuana on camera during an interview.

Over the past month, Tesla shares have tumbled by 26 percent in several rounds of steep nosedives.

Alliance Bernstein analyst Toni Sacconaghi, Jr said much of the pressure on Tesla shares over the last month has been due to the sense Musk is "running wild and can't be contained" following a patch of erratic behavior, including a podcast appearance Thursday night in which he smoked marijuana. "We would definitely honor that obligation, and we would do so right now if it were possible", Musk said. The company said in its second-quarter earnings letter this year that it expects to post consistent profits starting in the third quarter, and the high-end Model 3s generate better margins than the base model would.


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