Elon Musk calls out Goldman Sachs after negative report on Tesla

Investing


“We believe the sustainable production rate for the second quarter of 2018 is most likely below the 2,000 vehicle mark the company achieved in the final week of the [first] quarter,” Goldman analyst David Tamberrino wrote Tuesday. “We see the company likely sustaining Model 3 production around the 1,400 per week mark.”

Tesla’s share price, which has declined 2 percent this year, is closely related to Model 3 production. So when the carmaker reiterated its production target of 5,000 Model 3 sedans per week by the end of June, shares popped.

Tesla’s stock is up roughly 20 percent since the announcement last week and closed up 5.1 percent Tuesday.



Source link

Products You May Like

Articles You May Like

Jeff Bezos is now the richest man in modern history 
How to avoid overshopping on the longest Amazon Prime Day yet
Amazon Web Services said to eye network devices, networking stocks tank
Stocks making biggest moves after hours: NFLX, AMZN & more
Stocks making biggest moves after hours: SAH, CSX & more

Leave a Reply

Your email address will not be published. Required fields are marked *