Tesla cuts number of stock colors to streamline production

Tesla cuts number of stock colors to streamline production

Tesla has no experience with mass production. In other words, Musk was aiming for the company to ramp up its production rate by 20 times in five years.

"Longer-term, however, we remain neutral on Tesla, as we believe the stock is unlikely to meaningfully break out of this range until investors get clarity on normalized Model 3 gross margins/profitability, as well as product quality", stated Sacconaghi.

Tesla was already under pressure before the note. It's hard to sell electric cars.

Much of that anticipated growth, Musk said, would come from production of the Model 3, Tesla's first affordable vehicle designed for mass production.

Sacconaghi noted that while the latest sell-off reflects potential risks from lawsuits, Musk's "increasingly erratic" behavior, competition in the electric vehicle (EV) space and high management turnover, "it is unclear to us that any of these are deal breakers for the stock". Even if it was live on television, Elon Musk's marijuana episode at the weekend was just one of several freakish decisions that have rattled investors in the U.S. electric carmaker.

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On Thursday, CNBC to meet with financial advisors next week to formalize a process to explore Musk's take-private proposal, according to people familiar with the matter. The fiasco reportedly sparked an SEC investigation into the accuracy of Musk's "funding secured" tweet. Gill has an "underperform" rating on Tesla. She joined Tesla only 16 months ago. Both said it would be highly unlikely for deliveries to begin in September and more likely for them to begin in 2019.

Tesla stock tumbled again last week after the company's chief accounting officer suddenly resigned after less than a month on the job.

Contrary to an emerging Tesla bear thesis that demand for the Model 3 is declining, the analysts noted that the electric auto maker is now focused on selling higher-margin cars such as the Model 3 Performance and the Long Range AWD Model 3, where "demand continues to exceed what is being produced". "We would definitely honor that obligation, and we would do so right now if it were possible", Musk said.

There have also been a series of freakish tweets from Musk, several accusing the diver who saved the boys' soccer team trapped a waterlogged cave in Thailand of being a pedophile.

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