Tesla eliminates two colors options for its cars

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

Tesla eliminates two colors options for its cars

The company has said that it expects to become consistently profitable beginning in the third quarter and, on Friday, CEO Elon Musk said in an email to employees that was posted on Tesla's website that the third quarter will be the "most incredible quarter in our history".

"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.

Bloomberg's Model 3 production monitor suggests that the current weekly production number of the Model 3 is about 3,500 cars per week, not the 6,000 that Musk had suggested back in July.

Shah reduced his price target to $300 from $400 for Tesla's stock, representing 5 percent upside from Monday's close.

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

Moody's Investor Service downgraded Tesla's debt into junk territory in March, warning that the Palo Alto firm will not have cash to cover $3.7 billion (€3.2bn) for normal operations, capital expenses and debt that comes due early next year.

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

Tesla's CEO Elon Musk also announced a number of management promotions, as the electric vehicle maker enters the final weeks of an "amazing" third quarter, the company chairman said.

According to a June CNBC report, Tesla's paint shop has also had at least four fires, a very rare occurrence in modern auto factories. If Tesla does build and deliver more than "twice" as many cars as it did last quarter, that means the company would hit something like 107,000 vehicles. 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.

But if you're willing to pay more you can still get them, Musk said in a tweet.

A Tesla spokesperson referred to previous comments in which Musk said Tesla expects to turn a profit in the third and fourth quarters.

This is the Obsidian Black Tesla Model S.

Per usual, analysts have plenty to say about the stock.

Shares fell about 7pc as trading opened on Friday.

Disclosure: I have no ownership in shares of TSLA and have no plans to initiate any positions within 72 hours.

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