*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).
Crypto-bandits are imitating celebrities and CEOs on social media, trying to steal Bitcoin and other cryptocurrencies. Vinny Lingham, co-founder and CEO of Civic, and Charlie Shrem, a founder of the Bitcoin Foundation, told Cheddar about their experiences with scammers.
These are the headlines you Need2Know for Friday, Aug. 10.
The gamer communications hub, with 150 million users, will sell indie titles curated by its staff in a new online storefront. "We have a lot of people here that love playing games and have really great taste, and so we're gonna pick out stuff we think is worth your time," says CEO Jason Citron.
Tinder’s business is exploding. The dating app is on track to generate $800 million in revenue this year, its parent company Match Group said this week.
Roku is offering online and OTT viewers of its own channel fewer ads than linear TV, says Rob Holmes, the vice president of programming and engagement. The platform will also have "Featured Free" content from partners including ABC, Fox, and the CW.
Music mogul Wyclef Jean wants to be the first rapper to innovate a hip-hop guitar. Jean looks to Dr. Dre and Jimmy Iovine as music innovators, and hopes to mirror their technical success in the industry.
Music mogul Wyclef Jean wants to be the first rapper to innovate a hip-hop guitar. Jean looks to Dr. Dre and Jimmy Iovine as music innovators, and hopes to mirror their technical success in the industry. Jean also tells Cheddar cannabis is the health-aide of the future.
Snapchat will not remove a filter that promotes InfoWars and the conspiracy theorist Alex Jones, the company told Cheddar on Wednesday. A Snap spokesperson told Cheddar that the lens Jones promoted on Twitter wasn’t created by InfoWars or Snap, but rather a third party.
Snap may have beat revenue expectations for the second quarter, but BTIG media and tech analyst Rich Greenfield says the Snapchat maker's performance is well below where many investors thought it would be when the company went public.
MoviePass CEO Mitch Lowe told Cheddar on Wednesday that he expects to turn a profit in six to nine months, despite the fact that the company is losing tens of millions of dollars each month as it struggles to find a sustainable business model.
