Tesla shares climb on Musk's promise of 'amazing' quarter


It was the puff tweeted around the world when Tesla CEO Elon Musk shared a few tokes of a joint with comedian Joe Rogan on Rogan's podcast last week. "In the past two years alone, an unprecedented 23 executives have left Tesla", he wrote. That strategy paid off as Tesla built a huge lead in the electric auto race, although that position is under assault from intense competition by rival manufacturers such as Mercedes-Benz and Ford. The incident revived questions about whether Musk is the right person to lead Tesla, following his backtracking on taking the company private and claiming that a British diver who assisted in the rescue of a youth soccer team from a flooded cave in Thailand is a child molester.

Tesla also made headlines on Monday after Baird analyst Ben Kallo called Tesla a "Fresh Pick" (via CNBC).

Tesla stock (NASDAQ:TSLA) is showing its trademark volatility today, amidst a longtime bull's more cautious stance and a surprisingly optimistic outlook from a longtime critic.

The $35,000 Model 3 will reach new customers for Tesla, some of whom won't own multiple vehicles.

During the three months that ended in June, Tesla produced 53,339 vehicles and delivered 40,740.

"I think quality has to be their top priority", he said.

Tesla shares climbed almost 9 percent on Monday as investors reacted to Elon Musk on Friday evening predicting "the most wonderful quarter in our history".

When the news came out late last week about Elon Musk smoking weed on a podcast, TSLA shares plunged almost 7% early Friday. A profitable quarter and massive increase in production could re-focus the Tesla narrative around the company's rapid production growth and improving financial prospects.

On Friday the company announced that chief accounting officer Dave Morton had resigned after a month, citing public attention and the fast pace of the post. Venture capitalist Gene Munster wrote last week that the CEO's behavior was "making it harder and harder to support Tesla as a company". "Promoting Jerome is a small step in what is a much bigger problem, which is retaining existing talent and recruiting new talent".

At the moment, anyone ordering a new Tesla can choose from seven different color options.

"That's laughable", the employee said of Musk's prediction. "This should give Musk more bandwidth", Kim said, as well as time to "regroup himself".