iBankCoin
Joined Jan 27, 2008
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$TSLA Tesla Model 3 Runs Into “Production Bottleneck”

Well, we now know why we had persistent weakness in Tesla’s stock. Here’s the latest on production numbers from the model 3:

The electric-car maker said Monday that it produced 260 Model 3 sedans and delivered 220 of the cars in the third quarter, after holding a launch event for the car at the end of July that included the delivery of the first few cars to employees. Chief Executive Elon Musk has said that he expected Tesla to produce 100 Model 3 cars in August and ramp up to 1,500 in September, with plans to produce 5,000 Model 3 cars a week by the end of the year.

“Model 3 production was less than anticipated due to production bottlenecks,” the company said in its announcement Monday. “Although the vast majority of manufacturing subsystems at both our California car plant and our Nevada Gigafactory are able to operate at high rate, a handful have taken longer to activate than expected.” READ MORE

On the “Production Bottleneck” news, the stock is down 1.62% in the after-hours session, basically right back down to today’s low. $335.51, to be exact, was today’s low and we may slice right through it tomorrow judging by the late action. The stock likely has a date with the 200 day moving average at this point. See below:

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Godspeed $TSLA longs.

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4 comments

  1. frog2

    i got cucked

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  2. numbersgame

    Who coulda known?

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  3. bushwacker2

    A date with the 200-day? It might eventually get taken on on a road trip to $160. It might.

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  4. sarcrilege

    For as long as Tesla can continue bleeding more than $10MM daily and not exist w/o taxpayer subsidies, their stawk is a strong BUY.

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