Musk ditches two car paint options to simplify Tesla production

Musk ditches two car paint options to simplify Tesla production

Musk ditches two car paint options to simplify Tesla production

In a note published on Monday, Bernstein analyst Toni Sacconaghi stated that TSLA shares would likely bounce back up after the company's recent drops.

Tesla now offers seven colors for its vehicles that include top variant Model S, mid level Model X and its most affordable sedan Model 3.

Viecha also restated Tesla's forecast that it will build 50 000 to 55 000 of its Model 3 sedans in the current quarter, and indicated the company's working capital will improve as production increases, Spak wrote.

Tesla is removing obsidian black metallic and silver metallic from its standard color choices, according to a tweet from Musk.

The announcement follows a chaotic week for Tesla in which Musk lost his chief accounting officer after less than a month on the job, then smoked marijuana during a late-night podcast hosted by a California comedian. The shares fell 2% in pre-market trading on Tuesday. Praised by reviewers, but subject to production delays and reports of inconsistent quality, the vehicle has put pressure on Tesla to prove it can transition from a luxury automaker to a mass-market one.

But Kallo thinks Tesla's stock should still go higher.

Investors should still buy Tesla (TSLA)'s stock in spite of all the "drama" surrounding the electric auto maker and its management, an analyst at Baird said after touring the company's factory.

"With the launch of the Model 3, we saw that consumers were willing to forego compelling alternatives despite extended wait times and a premium price point". Gill has an "underperform" rating on Tesla.

"We believe Mr Morton's departure reflects the intensity of Tesla's work culture, and is not indicative of problems with fundamentals or financial reporting", wrote the analysts.

Guillen's promotion was announced along with a series of other personnel moves Friday after Tesla's shares were battered by the fallout from Musk's marijuana smoking and the exodus of two more major executives.

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

In late August, Musk acknowledged that paint has been a challenge.

"While in conversation with Joe about the effects of social media, Musk said" "Particularly on Instagram, people look like they have a much better life than they really do". And, the company said Friday that its chief accountant, Dave Morton, had resigned Tuesday, while Gaby Toledano, its human-resources chief, was extending a leave of absence.

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