Tesla Bulls and Bears United by Low Estimates for Model 3 Production
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The two warring factions of Tesla analysts seem to have found a common ground, with both bulls and bears expecting the electric-car maker’s first-quarter delivery numbers to be disappointing as it grapples with production bottlenecks at its battery factory and assembly plant. Tesla is expected to announce the numbers early this week.
March was the worst month for Tesla shares since December 2010, as mounting concern about Model 3 production and the fatal crash of a Model X car late last month damaged investor sentiment. The string of bad news has continued unabated, with Tesla late last week announcing a recall of all Model S cars built before April 2016.