Data sources GoodCarBadCar InsideEVs
Shares of Tesla(TSLA) are jumping 5% on Monday, after yet more commentary from CEO Elon Musk.
Shares of Tesla dropped 2 percent in early trading. During the second quarter, the switch seemingly flipped.
Tesla is dropping two of the seven standard colors it had offered to customers as it tries to streamline production.
Shah added, "We believe that Tesla is in need of better leadership (an about face) and are moving to the sidelines until we see what happens with management".
The company, based in Palo Alto, California, has struggled to vault from a niche maker of expensive electric vehicles into a mass-market automaker.
With his recent note, the Nomura Instinet analyst opted to cut Tesla's price target from $400 to $300.
In what could only be described as a dash of irony, Tesla recently received an optimistic outlook from a longtime critic as well. He reiterated a Market Perform rating and $325 price target on the shares, writing that the stock's recent woes largely stem from four main factors, : potential lawsuits about the go-private tweet heard round the world, Musk's erratic behavior, emerging competition, and executive departures and accounting issues.
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Per usual, analysts have plenty to say about the stock.
The only forecast Tesla had given previously for the third quarter was that it would produce 50,000 to 55,000 Model 3s.
"However, it is unclear to us that any of these are deal breakers for the stock".
Where we're headed: With little in the way of updates about fundamentals, the Tesla bull-bear debate continues. During the three months that ended in June, Tesla produced 53,339 vehicles and delivered 40,740.
"Elon Musk's email to employees indicated Q3 would be 'the most fantastic quarter in our history, ' VIN registrations and the Bloomberg Model 3 tracker seem to imply production is on track, and insideEVs reported the company sold approximately 23k vehicles in August". Elon Musk appears to be confident of the company's chances this Q3, as revealed in a letter to employees shared in Tesla's official blog last Friday.
In a new blog post, Musk predicted that the electric-car maker would build on its second-quarter success and have "the most unbelievable quarter in our history, building and delivering more than twice as many cars as we did last quarter".
Disclosure: I have no ownership in shares of TSLA and have no plans to initiate any positions within 72 hours.
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