*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).
Champion, the apparel company that has regained life as a cool-kid staple, is partnering with eSports teams. Champion's president of sports apparel John Fryer called gaming a "global phenomenon."
Bobby Lee of digital asset firm BTCC told Cheddar that assets like Bitcoin and Ethereum are more comparable to securities than crypto tokens, and it's where he said he remains bullish.
Lance Ulanoff, tech and social media expert, and Ian Sherr, executive editor of CNET News, agreed that Google's decision to not send a top executive to testify to Congress alongside Sheryl Sandberg and Jack Dorsey is going to cause significant damage among lawmakers for the company.
The activist, diversity consultant, and author is unsure if tech executives like Sheryl Sandberg and Jack Dorsey are equipped to fix platforms that they in part helped create and which, at least in the case of Twitter, might be fundamentally broken.
Allstate's partnership with Uber to provide drivers with commercial auto coverage now encompasses four states, including some of the New York market. The expansion hedges against a possible future where fewer car owners means fewer individual policies, said Tom Troy, executive vice president for Allstate's business insurance unit.
Tamara Warren, automotive journalist, said that Mercedes's new electric SUV is the first of what will be many luxury electric cars, and Tesla's about to get a lot more competition.
Will Uber hit its self-imposed deadline to file for an IPO in 2019? Joshua Franklin, IPO and private equity correspondent for Reuters, said it's on track.
Sachin Kansal, Uber's chief safety officer, told Cheddar about the new features rolling out to Uber drivers that were built with their feedback in mind. The announcement comes on the one-year anniversary of Dara Khosrowshahi taking over as the company's CEO.
Wednesday is a busy day on Capitol Hill. Facebook COO Sheryl Sandberg and Twitter CEO Jack Dorsey are testifying before the Senate as questions grow over foreign influence and fake news. Plus, Brett Kavanaugh returns to Capitol Hill to face questions from lawmakers in day two of his confirmation hearings. And we sit down with Tiffany Pham, CEO and founder of the website Mogul, to discuss how women can succeed in business.
These are the headlines you Need 2 Know.
