Should Investors Believe Elon Musk's Latest Tesla (TSLA) Promise?
- Author: Zachary Reyes Apr 14, 2018,
Apr 14, 2018, 0:33
It's been a tough few weeks for Tesla, the battery-electric automaker again missing production targets, being accused of improperly firing almost 1,000 factory workers and being scolded by federal safety regulators for its role in investigating a fatal crash involving its semi-autonomous Autopilot system.
This week, the National Transportation Safety Board (NTSB) ended Tesla's status as an official party to the agency's investigation into a March 23 fatal crash involving a Model X vehicle, reported The Wall Street Journal. For this they take help from the indicator known as Relative Strength Index (RSI), a momentum indicator that expresses a relative assessment of the strength of a security's recent price performance.
Tesla's share price has plunged 2.2 percent this year, and was trading 1.29 percent lower on Thursday at $297.
Ci Global Investments Inc increased its stake in Praxair Inc (PX) by 0.84% based on its latest 2017Q4 regulatory filing with the SEC.
It is alleged that Tesla CEO Elon Musk has started accepting contractual bids for the Model Y's production, with intent to begin production at Tesla's plant in Fremont, California. With the continuous Model 3 'production hell', Tesla is likely to find fresh funding more expensive and more hard to get, according to analysts. Tesla had planned to make 20,000 a month by December 2017 but just over 2,000 rolled off the line in the last three months of the year. Already the blogosphere is alight with angry Tesla intenders abandoning ship for more readily available rivals, nearly certainly one of the reasons for the stock's recent swoon.
Musk said he took direct control of Model 3 production earlier this month in a note to employees, also sent out at around 3 a.m. pacific time. "To do otherwise would be unsafe", Musk said in an April 2 tweet. This metric reflects the average amount a stock's price has differed from the mean over a period of time.
The NTSB is examining last month's crash of a 2017 Tesla Model X near Mountain View, Calif. (NASDAQ:TSLA)'s short data and trying to figure out market sentiment on which way the market thinks the stock is moving.
Basic budget analysis would seem to be the impetus behind this pervasive doom and gloom.
That's something that Tesla has been hammering about the Autopilot for years now, but it has come to focus again recently due to a few accidents.
"You should name it so that it is clear what it can and can't do", he said.
In other Tesla news, VP John Douglas Field sold 1,000 shares of the stock in a transaction dated Thursday, February 15th. This ratio also gives some idea of whether you're paying too much for what would be left if the company went bankrupt immediately. Analysts, even those once bullish on Tesla's future, now openly joke about whether Tesla "will be around" for the next step in the auto industry's electric revolution. The fund operates about $122.49 billion US Long portfolio.