Tesla Inc (TSLA.O) will eliminate some color options for its electric cars to streamline production, Chief Executive Officer Elon Musk tweeted on Tuesday, as the company intensifies its efforts to ramp up production.
Tesla's Gigafactory, its lithium-ion battery-production facility, "creates a significant barrier for competition and manufacturing capability" that should benefit Tesla over the long term, Kallo and Katter said.
Shah slashed his price target on the company to $300 from $400 citing the "erratic behaviour of CEO Elon Musk".
Tesla is up 5% to $276.51 in recent trading. Baird published a bullish note on Monday, recommending traders continue to "buy even with drama". "We think the setup in sentiment looks relatively favorable for the next few weeks", analyst Toni Sacconaghi said in a note to clients Monday.
Near 1915 GMT, Tesla shares were up 6.5 per cent to $280.22, recovering from Friday's selloff prompted by the news of two executive departures and criticism of Musk's pot-smoking podcast appearance. Musk has promised that as it sells more Model 3s the company will turn a sustained net profit starting this quarter.
Tesla could use a difference maker to rebound from a chaotic period that's sent its stock tumbling to end last week at the lowest close since April 2.
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"However, it is unclear to us that any of these are deal breakers for the stock", he said.
Tech Crunch reported Tesla produced 53,339 vehicles in the second quarter.
On Friday, Musk announced that Guillen, the brains behind the Model 3 assembly line built, against all odds, under a tent outside Tesla's auto factory, had been elevated to the new position of automotive president.
That schedule is likely to concern some customers, as they will begin to lose access to a $7,500 tax credit for Tesla vehicles beginning in January, when the credit gets cut in half.
Tesla owners must be blasting Visions through the streets of Palo Alto because Grimes streams are up ... way up.