*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 scooter start-up reported on Thursday that it has raised $300 million. This is Bird's third round of funding this year, valuing the company at an estimated $2 billion. "We've never seen something grow so quickly with such high engagement," Dana Settle, founding partner, tells Cheddar.
A new California data privacy bill will require companies that store personal information to disclose what types of data they collect. The law also gives users the opportunity to opt out. "There's a certain point where this has maybe gone too far," Dave White, a former national counterterrorism center officer, tells Cheddar about companies collecting data.
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The cryptocurrency is seeing weakening demand, which is putting pressure on prices. “We’ve slipped back in terms of people that accept it, so the transactional network is smaller today than it was a year ago,” says Paul Johnson, senior adviser at blockchain consulting firm Harbor Peak. “We’ve got this speculative demand that’s gone away because FOMO’s gone.”
The consumer banking company, which has been testing and refining its Finn app in St. Louis since October, decided to expand its scope nationally. But the platform faces some tough competition, including Goldman Sach's Marcus and even Amazon.
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The ride-sharing company got a new $600 million worth of funding, led by investment firm Fidelity. That raises its valuation to $15.1 billion from about $7.5 billion a year ago. But even with the fresh money, Andrew Hawkins, senior transportation reporter for the Verge, said the company could still IPO before Uber.
The White House announced plans to ease restrictions on Chinese investment in U.S. technology companies on Wednesday. The Trump administration won't block companies with 25 percent or more of Chinese ownership from buying into the U.S. tech sector. Markets rebounded on the news.
The results are in from Tuesday's primary elections. Zach Montellaro, campaign reporter at Politico, joins Cheddar to weigh in on the shocking political upset in New York's 14th district. Political newcomer Alexandria Ocasio-Cortez defeated Rep. Joe Crowley, the fourth most powerful Democrat in the House.
Plus, Conagra Brands is buying Pinnacle Foods in a cash-and-stock deal worth $10.9 billion. The deal will create the second largest frozen food company in the U.S., just behind Nestle. Conagra owns Healthy Choice and Pinnacle owns Birds Eye.
