*By Conor White*
The positive [news](https://cheddar.com/videos/tesla-stock-surges-after-q2-earnings-report) in Tesla's second quarter earnings report outweighed the negatives for most investors, sending shares up more than 12 percent to their highest level in a month.
The electric carmaker announced that Model 3 production is up, but it posted losses of more than $700 million.
Some analysts have fundamental doubts about Tesla's future.
"It's a story stock," said Mark Spiegel, managing member at Stanphyl Capital. "What you have here are: bulls who couldn't care less about balance sheets or profit and loss statements; and you've got bears, or as I would call them, realists, who care a lot about that kind of stuff."
Spiegel counts himself in the latter group. He said in an interview Thursday on Cheddar that Tesla didn't do nearly enough to assuage fears about its future ー and that doesn't even account for all the other car companies eager for a bigger slice of the electric vehicle industry.
"There's a massive amount of competition coming for this company," Speigel said. "Between the Jaguar that's out now and the Audi, Mercedes, and Porsche coming out next year, it's going to destroy Model S and X sales, and that's where \[Tesla's\] margin isーwhatever margin they have."
And even though [outspoken](https://cheddar.com/videos/will-elon-musk-behave-on-this-weeks-earnings-call) CEO Elon Musk behaved on this conference call, there's no telling what he will do next.
After reaching its production goal of 5,000 Model 3 cars per week, Tesla reports it now wants to churn out 10,000 per week, "as fast as we can."
Spiegel dismissed those numbers ー and Tesla more generally.
"They're a perennial over-promiser and under-deliverer," he said.
"The reason they keep putting out these aggressive numbers is it supports the stock, which is an absurd valuation. If Tesla were a normal car company losing this much money, the stock would be in the low single digits."
For more on this story, [click here](https://cheddar.com/videos/tesla-announces-biggest-loss-ever-but-shares-rally).
The Justice Department has announced its largest-ever financial seizure — more than $3.5 billion — and the arrests of a New York couple accused of conspiring to launder billions of dollars in cryptocurrency.
The IRS said Monday it will suspend the use of facial recognition technology to authenticate people who create online accounts after the practice was criticized by privacy advocates and lawmakers.
As we celebrate Black History Month, Cheddar is highlighting prominent Black Americans who are carving their own historic paths and trailblazing in their industries. Today we feature Greg Robinson, director of NASA's James Webb Space Telescope program.
The last trading day of January ended one of the most rocky months for the markets in nearly two years. Dan Russo, Portfolio Manager and Director of Research, at Potomac Fund Management explains what happened in January, and what to expect for February.
Just ahead of Google parent company Alphabet reporting its fourth quarter earnings, investors are keeping an eye on revenue from its cloud services, which has been a major area of development recently as well as its ad revenue. Adam Lampe, CEO and Co-Founder of Mint Wealth Management explains why the cloud may be the future for Alphabet.
After weeks of bad news about Peloton, reports indicate that the at-home fitness giant might find itself getting acquired. Doug Astrop, managing partner at Exponential Investment Partners, joined Wake Up With Cheddar to discuss the possibility that Amazon, Nike, and Apple might be showing interest in buying the subscription-based business, whose shares have plummeted near 80 percent in the past year. "At some point everybody hits the limit on how many monthly fees they want to pay, how many subscriptions they want to have," said Astrop. "And you know, you've got Netflix, you got Amazon Prime, you got Spotify — I mean there's there's endless people who want you to pay a monthly fee. So, if you can be part of these bundles, it can really be advantageous for everybody."
Jarrod Loadholt, Partner at Ice Miller, joins Cheddar News' Closing Bell, where he breaks down the latest proposal by the SEC and explains how it could allow the agency to make major regulatory moves within the cryptocurrency space if approved.
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