*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 'Block 5' rocket is the first Falcon 9 rocket that can theoretically be reused 10 times without any maintenance, and up to 100 times with just minor servicing. If SpaceX can pull off seven successful 'Block 5' launches, the company could get clearance from NASA to do manned missions, says Will Goodman, managing editor of Rockets Are Cool.
Huya sees itself as the Twitch of China, with 40 million active monthly users on mobile and $344 million in revenue. The Chinese company traded up as much as 41 percent from its IPO price of $12 on Friday.
The London-based fintech start-up allows users to buy and trade cryptocurrencies, making it a direct competitor to the U.S.-based Robinhood. Revolut also sees itself as a disruptor of the traditional banking industry, as it offers checking accounts, peer-to-peer payments, and international money transfers, says Chad West, the company's chief marketing officer.
Facebook is planning to launch its own cryptocurrency, Cheddar senior reporter Alex Heath has learned. A source says the social media company is "very serious" about building a digital coin for users to make secure online payments. This news comes just days after Facebook reorganized its executive leadership and created a team solely devoted to exploring blockchain technology.
Dropbox stock is trading lower even after the company reported a successful first quarter. The cloud storage company beat estimates on earnings and revenue in its first quarterly report as a public company. Dropbox added 500,000 paid users, bringing its total number of paid users to 11.5 million.
BUST Magazine will host its annual Craftacular event in Brooklyn this weekend. The event brings together dozens of local artists and businesses. We talk to Debbie Stoller, editor-in-chief and co-publisher of BUST Magazine, and Laurie Henzel, creative director and co-publisher of BUST Magazine, about what to expect.
Dropbox stock is trading lower even after the company reported a successful first quarter. The cloud sharing company beat estimates on earnings and revenue in its first quarterly report as a public company. Dropbox also added 500,000 paid users.
The competition between Amazon and Google just got a little more interesting. Amazon has stopped buying Google Shopping ads, according to a report in Bloomberg. Amazon is increasingly expanding its reach in the digital ad market, a space that Google dominates.
The music streaming company's decision to stop promoting R. Kelly, who has been accused of sexually abusing women in a sex cult, was driven by a social push from its users, says Phillip Tracy, tech writer for the Daily Dot.
Dolo uses location to help users find people around them, encouraging them to meet new friends. Safety, of course, is a major concern and the app lets users go by fake names and mask their profile pictures, say the co-founders Raja Haddad and Ben Vigier.
Facebook is developing a virtual token that would allow users around the world to make electronic payments. The news comes after the company announced its biggest-ever executive reshuffle, which put former Messenger chief David Marcus at the head of a new blockchain unit.
Musk claimed on Instagram that his first underground tunnel in LA is "almost done," pending final regulatory approvals, and promised his Boring Company will initially offer free rides to the public. But investors have come to take the Tesla CEO's bold promises with a grain of salt.
The newly formed company connects homeowners to service providers, such as plumbers and painters. ANGI Homeservices, which is one of the biggest revenue sources for its parent company IAC, has seen "strong demand from homeowners" since the merger a year ago, says CEO Chris Terrill.
