Could another missed production goal be enough to really change investors’ tune on Tesla?
Todd Lassa, Detroit Bureau Chief at Automobile Magazine, says falling short on Model 3 deliveries again might deal a blow to the electric automaker’s reputation.
“I think that it’ll affect perception more than bottom line, I think bottom line has always been troublesome over at Tesla,” he said. “We’re basically getting what we’ve always got from Elon Musk, but I think it’s finally starting to catch up to him.”
He points out that he’s long expressed concerns over Tesla’s ability to make money off its cars. In fact Tesla has only posted two profitable quarters in its nearly ten years as a public company, and in its most recent report it announced its biggest ever loss of more than $600 million.
It’s only been in the last few months, though, that the stock has pulled back, down 20 percent since hitting a record high in September.
“Maybe the investment community is catching up with us,” Lassa said.
Tesla has been spending heavily to match its aggressive production agenda, but some analysts aren’t convinced those efforts will pay off. KeyBanc Capital earlier this week slashed its forecast for Model 3 deliveries in the fourth quarter from 15,000 to 5,000.
To put that in perspective, Tesla originally said it would be rolling out 5,000 of the mass-market vehicles *each week* by the end of the year.
For full interview [click here](https://cheddar.com/videos/teslas-model-3-outlook-slashed).
Eric Lynch, managing director of Scharf Investments, joined Cheddar News to discuss market trends and what lies ahead as the Federal Reserve paused interest rate hikes.
On this edition of Stretching Your Dollar, AJ Ayers, certified financial planner and co-founder of Brooklyn Fi, provided some tips on how to boost your credit score.
The Federal Reserve, having raised interest rates at the fastest pace in four decades, is poised Wednesday to leave rates alone for the first time in 15 months to allow time to gauge the impact of its aggressive drive to tame inflation.
On Tuesday, the Bahamas Supreme Court allowed FTX founder Sam Bankman-Fried to review the terms of his extradition and temporarily delayed the country from agreeing to let U.S. prosecutors pursue criminal charges against him.
Microsoft's planned $69 billion purchase of video game company Activision Blizzard was blocked by a federal judge Tuesday, giving more time for an antitrust review of the deal.
Consumer prices in the United States cooled last month, rising just 0.1% from April to May and extending the past year's steady easing of inflation. At the same time, some measures of underlying price pressures remained high.
People are using apps more than ever to help manage and save their money, and it's hard to know which ones work best. We recently sat down with Insider financial correspondent Jennifer Streaks to help us break down some of the best apps out there right now.
Stocks rose Tuesday after a cooler reading on inflation cemented Wall Street’s bets for the Federal Reserve to hold off on hiking interest rates this week.
