The world greatest grifter, Saint Elon is in some deep Doo doo! The shine is coming off the turd!
esla Inc. shares slid 7% Tuesday to bring their two-day loss to more than 9%, as analysts weighed in on lower-than-expected second-quarter deliveries and questioned whether the achievement of a key production goal is sustainable.
Adding to the downdraft was a Business Insider report that said internal documents showed Tesla Chief Executive Elon Musk ordered his employees to stop putting nearly finished Model 3s through a critical safety test before leaving the factory floor. A Tesla spokesperson told the website that every car goes through “rigorous quality checks.â€
The electric car maker reported on Monday that it delivered 40,740 vehicles in the second quarter, “another significant miss vs. consensus of 48,874 and JPM’s 56,600 (Tesla deliveries also fell short in 1Q18, 4Q17, and 3Q17 — ever since the Model 3 entered production),†JP Morgan analyst Ryan Brinkman wrote in a note.
Brinkman said the company’s success in finally meeting its goal of producing 5,000 of its Model 3 mass-market sedans a week, was likely aided by the past practice of unsustainable “burst production,†where it pulls out all the stops to meet a goal that cannot initially be repeated.
https://marketwatch.com/story/tesla-stock-slammed-as-analysts-question-whether-production-goal-is-sustainable-2018-07-03
