Tesla stock takes a dive - and it may keep plummeting

Tesla stock takes a dive - and it may keep plummeting

Tesla stock takes a dive - and it may keep plummeting

The mid-range model, unveiled in March 2016, is a crucial piece of Musk's ambitions to transform Tesla into a large-scale vehicle manufacturer. Musk announced the news on Twitter. He further informed that the first few Model 3s will be handed over to the soon-to-be-owners as early as 28th of this month. Tesla CEO and businessman, #Elon Musk revealed that the first vehicle might be delivered within the week after it has passed "regulatory requirements" two weeks ahead of schedule. The success of his campaign for a sustainable transport will depend on how fast Tesla can deliver the orders of its most coveted EV just yet. Tesla finished the first half with sales of 47,100 vehicles, just meeting its goal of delivering 47,000 to 50,000 vehicles.

Tesla CEO Elon Musk had bigger concerns than the company's falling stock price Thursday morning.

The company has been plagued by production snafus that have cut into output.

This development is likely to come as welcome news for Tesla fans who paid $1,000 to reserve the Model 3.

The Model 3 will be priced around $35,000.

Created to carry 5 passengers, have a range of around 345 kilometers on a single charge, accelerate from 0 - 100 kilometers per hour in under 6 seconds, and have the necessary support for semi-autonomous driving (Tesla's Autopilot hardware), Tesla 3 is being sold at a starting price of $35,000.

Tesla says it may be able to produce 500,000 cars by the end of 2018 thanks to its Gigafactory, where it will make its Model 3 vehicles.

While the Model 3 is on a roll, Tesla Model S has hit a slight roadblock in certain tests by the Insurance Institute for Highway Safety (IIHS).

The sales miss coincides with mounting competition from traditional auto makers such as Volvo, which announced on Wednesday that it would only build electric or hybrid vehicles after 2019.

"It should also be noted that production quality and field reliability of the Model X, for which Tesla has been fairly criticized, have improved dramatically", said the company in a statement Monday. In August, 100 cars will be produced and more than 1,500 by September. Tesla is expected to release second-quarter sales figures Monday. Tesla, meanwhile, could harvest a new consumer base.

While analysts from major investment banks like Goldman Sachs and Bank of America typically disagree (to a certain extent) on future price targets for stocks, it's much rarer for analysts to be totally split on if a company's stock will go up or down. Do you think it is possible?

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