*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).
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Singapore's competition watchdog is proposing fines on Uber and Grab, saying the recent merger between the two companies stifles competition. The Competition and Consumer Commission, or CCCS, even suggested unwinding the deal between Uber and Grab. Last March, Uber sold its Southeast Asia business to ride-hailing rival, Grab.
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Business Insider reported that Tesla's CEO Elon Musk asked engineers to halt putting Model 3 vehicles through a standard brake and roll alignment test before leaving the factory floor.
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The SEC, FBI, and FTC are reportedly joining the Justice Department in investigating whether the social network withheld information about the Cambridge Analytica scandal. Shares of Facebook were down in early trade on Tuesday.
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The ride-sharing company announced plans to begin testing autonomous-vehicle operations, despite a fatal crash involving an Uber driverless car in Arizona back in March. “There are about 30,000 people that die in automotive crashes every single year and there is an expectation that this is a technology that could substantially reduce that number,” says Ben Fox Rubin, CNET News senior reporter.
The crowdfunding platform announced plans to help teams raise money in a more collaborative way. "We realized that market was under served," GoFundMe CMO Raquel Rozas tells Cheddar.
