Tesla stock plunges after Elon Musk 'smokes marijuana' during web interview - Ireland

Judy Cobb
September 12, 2018

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".

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.

Media reports that the US Air Force is reviewing the security clearance of Elon Musk, the chief executive of automaker Tesla Inc are inaccurate, US Air Force spokesperson Captain Hope Cronin said on Friday.

Despite rebounding 6% on Monday, Tesla's share price has plunged 29% from the peak of $389.61 on the day Musk tweeted the go-private plan. Tesla isn't explaining for now, other than to say it streamlines the production line to some extent.

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

Elon Musk said he is retiring two of seven Tesla color options from his electric vehicle range on Wednesday - Obsidian Black Metallic and Metallic Silver - to help speed up production times.

Tesla is under heavy pressure to build as many cars as it can as efficiently as possible, and taking two paint options out of the equation certainly seems like a reasonable move. (TSLA) crashed 30% through Friday since a tweet from its eccentric founder and Chief Executive Officer (CEO) Elon Musk in August indicating that he would take the firm private at $420 per share. The growth, Musk said, represents "the most mind-blowing growth in the history of the automotive industry". The company said in its second-quarter earnings letter this year that it expects to post consistent profits starting in the third quarter, and the high-end Model 3s generate better margins than the base model would. Bernstein noted that headlines have overshadowed the little we've heard about fundamentals, suggesting that "the company appears to remain on track to meet its Model 3 production guidance". Shares fell 2% Tuesday and are now down more than 20% in the past month. The Motley Fool owns shares of and recommends Tesla.

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