Saturday, 22 September, 2018

Tesla shares sink as senior leaders exit company

: 'No longer investable': One of Tesla's biggest former bulls just slashed his price target, and the stock is tumbling (TSLA) Tesla shares slip as analyst calls company "uninvestable"
Wayne Curry | 12 September, 2018, 01:31

Musk told employees on Friday afternoon that its third quarter, which comes to a close at the end of September, will be "the most unbelievable quarter in our history", featuring double the vehicle production and deliveries Tesla achieved in Q2. With the Model 3, production hit 7,000 cars a week in July after a shutdown led to improved automation before the production line switched to 24/7. Robert W. Baird's Ben Kallo reiterated an Outperform rating and $411 price target on the shares, writing that a recent tour of Tesla's Fremont factory left him more confident in his bullish stance on the stock.

Other analysts are skeptical that Tesla can accelerate or even maintain this production pace long enough to be profitable.

The company, based in Palo Alto, California, has struggled to vault from a niche maker of expensive electric cars into a mass-market producer.

Tesla's decline has been driven by accelerating "management credibility issues", Needham & Co. analyst Rajvindra Gill wrote in a report on Monday. The least expensive Model 3 now available starts at $49,000, according to Tesla's website. The waiting list for a Model 3 is more than 400,000 strong, and some people have been waiting since March 2016. He also detailed seven new management changes, which come after Tesla's chief accounting officer quit last week after just a month on the job.

Regime, Russian air raids resume on Syria's Idlib
The OCHA chief, Mark Lowcock, warned that this risked provoking the worst humanitarian catastrophe of the 21st Century. Security Council meeting on Idlib: " Syria is once again at the edge of an abyss ".

Vice President Pence Goes After Tester in New Ad
Trump has repeatedly threatened to shut down the government when funding runs out on September 30 if the U.S. He told The Daily Beast that he had won VIP tickets and met Trump before the rally started for a photo-op.

Ethereum Price At 2018 Rock Bottom; What Now?
And there hasn't been the rush of ICOs this year like there was last, so new money doesn't appear to be flowing into the market. Market is dealing with some crises as the news broke out that Goldman Sachs has backed out from the deal over trading with BTC.

The podcast stunt follows a tumultuous August in which Musk tweeted that funding had been "secured" to take Tesla private at $420 a share. Both said it would be highly unlikely for deliveries to begin in September and more likely for them to begin in 2019.

Tesla shares fell Friday, amid news the company had lost two members of its senior leadership team. Musk has promised that as it sells more Model 3s the company will turn a sustained net profit starting this quarter.

Tesla is under heavy pressure to build as many cars as it can as efficiently as possible, and taking two paint options out of the equation certainly seems like a reasonable move. Bernstein noted that headlines have overshadowed the little we've heard about fundamentals, suggesting that "the company appears to remain on track to meet its Model 3 production guidance". "We now see the near-term risk-reward for Tesla as relatively skewed to the upside, given the potential for the stock to revert towards the middle of its $270 to $370 range", the analyst wrote. The Motley Fool owns shares of and recommends Tesla.

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