Tesla cuts number of stock colors to streamline production

Data sources GoodCarBadCar InsideEVs

Data sources GoodCarBadCar InsideEVs

Telsa, Inc. (NASDAQ:TSLA) has been all over the news these past few months, as the company has experienced waves of instability and erratic behavior from Tesla's CEO, Elon Musk.

A Tesla spokesman said dropping the paint colors is not an indication of any production problems.

"Longer-term, however, we remain neutral on Tesla, as we believe the stock is unlikely to meaningfully break out of this range until investors get clarity on normalized Model 3 gross margins/profitability, as well as product quality", stated Sacconaghi.

Tesla shares surged Monday after Baird published a bullish note on the company.

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

Shah noted that Tesla could very well out-innovate the competition, and the company may eventually become much bigger than it is today, but it would be wise to remain on the sidelines until the electric auto maker has better leadership.

Two current Tesla employees who work in vehicle production at the Fremont factory where the company makes its cars and one former employee who worked at the Fremont factory before leaving the company in August shared diverging opinions with Business Insider on whether the company will fulfill Musk's lofty vision for the third quarter. The least expensive Model 3 now available starts at $49,000, according to Tesla's website.

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.

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Musk's breaking point started when the Tesla Model 3 was revealed to the public back in early 2016.

After last week's live interview, Tesla's stock tumbled on Friday, also due to the resignation of Chief Accounting Officer Dave Morton, who is quitting after just one month on the job.

Tesla did not immediately respond to a request for comment. The shares fell 2% in pre-market trading on Tuesday. Over half a million individuals worldwide reserved the Tesla Model 3, and the all-electric auto manufacturer was not ready for that volume of demand. "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. He views the drop off in Tesla shares following controversy over Musk's unapproved tweets regarding a take-private acquisition as overblown.

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