Amid delays due to “Bottlenecks” with the production of the much anticipated Model 3, Tesla posted a loss of 619.4 million dollars according to Autoblog. In response to the losses, Tesla’s stock fell by three percent. It is clear that investors are starting to lose their patience with Tesla’s eccentric billionaire, Elon Musk.
In another Autoblog story, a stock analyst company, Cowen and Codid not sugarcoat the situation, saying:
“Tesla needs to slow down and more narrowly focus its vision and come up for a breath of fresh air. Elon Musk needs to stop over promising and under delivering.”
An analyst from Nomura Instinet, Romit Shah expects good things from Tesla in the future but believes that investors are worried about the here and now. “While we expect that increased Model 3 production will provide a meaningful injection of liquidity on a number of fronts, Tesla runs the risk of requiring financing over the next few quarters, particularly if Model 3 production continues to undershoot expectations,” Nomura Instinet analyst Romit Shah said in a note on the results,” Shah said.
The pressure seems to be getting to Musk, as multiple journalists on a conference call confirmed that Musk yelled, “Shame!” at them during a call over their reporting on layoffs and losses.