*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).

Share:
More In Technology
Harley Quinn Smith on the Pros and Cons of Instagram
The actress and daughter of writer/director Kevin Smith, says the Facebook-owned platform has been the most effective in helping her advocate for animal rights and veganism because it enables engagement. But she thinks overall, "everybody needs to learn how to be more compassionate with each other" on the platform. Smith's new movie, "All These Small Things," debuts on April 24 at the Tribeca Film Festival.
Norma Kamali on the Future of Fashion
The designer behind the sleeping bag coat says the industry needs to adapt to a more automated supply chain and find creative ways to interact with customers. "It's an investment we all have to make," Kamali told Cheddar in an interview Monday.
This Movie Wants You to Play a Leading Role
This movie about Jack and the Beanstalk uses VR technology to put you at the center of the action. "It's going to tackle pretty much every sense," explains Mathias Chelebourg, the creator of "Jack: Part One," one of the most talked-about projects at the Tribeca Film Festival this year.
New Demands on Tech Execs Facing Public Scrutiny
The leaders of major tech firms are facing greater public scrutiny over everything from privacy issues to workplace culture. This puts the executives in unfamiliar situations where they must show both sympathy and accountability, says Ben LaBolt, a partner at Bully Pulpit, an image consulting firm.
Lagging Demand Might Not Kill iPhone X
Apple shares dropped sharply Friday on rumors the iPhone X is about to be discontinued. But PCMag's Sascha Segan says it won't necessarily be because of weak demand, but to make room for a new prestige product.
Opening Bell: April 20, 2018
Wells Fargo just can't seem to escape public scandal. The bank is being fined $1 billion for scamming customers into buying auto loans, the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency announced Friday. Last year, Wells Fargo apologized for selling car insurance to around 570,000 customers who didn't need it. It's the toughest fine the Trump Administration has imposed on a Wall Street bank yet. Apple may discontinue its iPhone X after lackluster sales. The semiconductor company Apple uses for iPhone X parts, Taiwan Semiconductor Manufacturing, issued weak guidance for the rest of the year in its recent quarterly earnings report. One analyst is speculating this means Apple is no longer ordering parts for its iPhone X. And we're joined by the CEO of the new subscription box company, "Hunt A Killer." Ryan Hogan explains how his company ships monthly boxes to customers, encouraging them to solve murder mysteries one clue at a time.
Get Ready for More Retail Closures
This year is shaping up to set a record for retailers closing stores as companies from Toys 'R' Us to Bon-Ton face the fate of declining foot traffic and rising e-commerce. The Lionesque Group's Melissa Gonzalez discusses the future of brick-and-mortar.
LimeBike CEO Addresses Cease-and-Desist Letter
San Francisco officials said this week that the bike-sharing company along with two others "create a public nuisance." But LimeBike's CEO disputes that criticism and says the company has been working with communities to understand and respond to their needs.
Load More