Thursday, 20 September, 2018

Tesla cuts number of stock colors to streamline production

Data sources GoodCarBadCar InsideEVs TroyTeslike and Kelly Blue Book Data sources GoodCarBadCar InsideEVs TroyTeslike and Kelly Blue Book
Troy Mann | 15 September, 2018, 00:03

Bernstein's Toni Sacconaghi, for his part, said that Tesla's below $300 share price was an "attractive near-term entry" point, but the analyst remains neutral on Tesla's longer-term performance until investors see if Tesla can pull off Model 3 quality, quantity, and profit margins. Once Tesla is manufacturing the full range of the Model 3's variants, it would not be too surprising if the vehicle ends up dethroning best-selling passenger cars like the Toyota Camry in the United States.

Tesla fans can still choose solid black and "midnight silver metallic", as well as pearl white, deep blue metallic and red.

In May, Tesla CEO Elon Musk suggested the company would start delivering the $35,000 model three to six months after reaching its 5,000-per-week production goal, which meant deliveries would start sometime between the end of September and the end of December.

But some analysts painted a dour picture of the move. "It's a lot more effort than selling gasoline cars [because] you need a lot more education", he said during the interview.

Nacho Monreal needs new deal, says Unai Emery
The Spaniard has been discussing his plans for the future, with Arsenal ready to reward him with a new and improved contract at the club.


SpaceX books private passenger flight around the Moon
At that time, SpaceX said two people signed a deal with SpaceX to make a trip around the moon aboard a Falcon Heavy rocket. The company said the programme is an important step towards making recreational space travel a reality for people.


Amazon CEO Jeff Bezos launches a $2 billion philanthropic fund
In January, Bezos also personally gave $33 million USA in college scholarships for young immigrants living in the U.S. illegally. Within this, the Day 1 Families Fund will support existing non-profits that offer shelter and food to young homeless families.


Shah expressed concerns over the rising frequency of CEO Elon Musk's tweeting as well as Musk's taunts of short sellers, his recent earnings call outburst, and his increasingly unpredictable behavior. "We are anxious that this behavior is tainting the Tesla brand, which in terms of value is most important", Shah says in the note, as carried by CNBC. The former CFO of Seagate, stated in a letter that "since I joined Tesla on August 6, the level of public attention placed on the company, as well as the pace within the company, have exceeded my expectations", Morton said in the filing.

Shares of the company were down 3.5 percent at US$275.56 on Tuesday.

Tesla dropped Tuesday after being downgraded by Nomura Instinet, which was formerly one of the most bullish firms on Wall Street toward the stock. Then, earlier this month, a handful of Tesla executives announced their departure after Musk appeared on The Joe Rogan Experience podcast speaking on topics such as electric airplanes while sipping whiskey and smoking marijuana.

Tesla has been under even more scrutiny than usual since Musk tweeted on August 7 that he was considering taking Tesla private at $420 a share and had "funding secured".

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