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ibusinesslines.com November 15, 2018


More To Blame Than Mary Jane As Musk Inhales Tesla's Woes

11 September 2018, 08:05 | Jodi Jackson

More To Blame Than Mary Jane As Musk Inhales Tesla's Woes

Tesla’s stock stumble is a searching for more than a few analyst says

In a new blog post, Musk predicted that the electric-car maker would build on its second-quarter success and have "the most awesome quarter in our history, building and delivering more than twice as many cars as we did last quarter".

Tesla was already under pressure before the note.

Mr Morton said: "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", according to a company filing with the US Securities and Exchange Commission.

In what could only be described as a dash of irony, Tesla recently received an optimistic outlook from a longtime critic as well.

"We occasionally adjust pricing and available options to best reflect the value of our products and to streamline our manufacturing operations", a Tesla spokesperson said.

"We see the current dip in Tesla's stock as analogous to prior trading opportunities, which have tended to arise when the stock falls below ~$300 per share".


It takes more than a toke on a joint by a CEO to bring down a company these days - and Tesla is no different.

Tesla has told investors it expects to turn a profit in the second half of this year, a forecast the company's head of investor relations, Martin Viecha, reiterated at a conference last week sponsored by RBC Capital Markets, RBC analyst Joseph Spak wrote in a note. "As long as he doesn't self-destruct, we think this is the reality (show) of being a Tesla investor". Tesla shares have also been hit by a round of short selling, sparking more angry tweets, and have dipped accordingly.

On Friday, Musk announced that Guillen, the brains behind the Model 3 assembly line built, against all odds, under a tent outside Tesla's vehicle factory, had been elevated to the new position of automotive president.

With less than three weeks before the end of September, Tesla is now in full throttle as it attempts to reach its target of producing a total of 50,000-55,000 Model 3 this quarter.

"There's been concern about Elon Musk's erratic behavior", Osborne said. Kevin, who has worked for Tesla for six years, will be responsible for "Human Resources, Facilities, Construction, and Infrastructure Development". The Motley Fool owns shares of and recommends Tesla.



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