Automotive

Tesla Shares Up Despite Negative Publicity in the Market

Tesla continues bullish performance despite the influx of negative media in the market. The auto-tech company extends its strong rally as analysts continue to point the company’s greatest strength. They also noted that the media is missing the real factors.

CEO Elon Musk also announced his intent on creating a new website. Musk took it to Twitter to vent his frustration on the recent media outbreaks.

“Problem is journos are under constant pressure to get max clicks & earn advertising dollars or get fired. Tricky situation, as Tesla doesn’t advertise, but fossil fuel companies & gas/diesel car companies are among world’s biggest advertisers,” Musk tweeted.

Tesla’s has been the target of media outlets after the Model 3’s lackluster reports. “Negative headlines have increased substantially in the past month and, in our opinion, increasingly immaterial reports have dominated news cycles,” analyst Ben Kallo noted.

He also added that “We think we have hit a peak in negative coverage/sentiment, and believe shares could appreciate significantly with execution, which should coincide with an improvement in sentiment.”

Tesla Shrugs Negative News, Extends Bullish Performance

Tesla Shrugs Negative News, Extends Bullish Performance

Tesla’s Stock Performance

The auto giant, despite the entire conundrum, continues to extend its bullish run. The company managed to tally a 1.48% stock price increase on the previous session to $279.07. Furthermore, their delivery and production for all models surged by a whopping 83% annually since 2012.

Tesla has been striving to pick up their Model 3 production and deliveries after the recent target miss. They continue to push greater actions as they strengthen their brand as the biggest seller of electric cars in the market.

On the other hand, the company still needs to push great results this year. Their performance for the whole year is down by a whopping 11.7% due to the immense loss they suffer from the problematic Model 3 production and delivery.

The company’s stocks are still down 7% after their previous quarter release last May 2. They also lost at least a quarter of their value since their massive performance last September of last year.

Furthermore, the company is also facing another issue as reports revealed that some of their autos have been crashing. The great numbers of Tesla car crashing have been worrying some of its investors in the market. Reports revealed that a problem on their breaks has been causing the recent accidents.

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