Tesla is developing a long-haul, electric semi-truck that can drive itself and move in "platoons" that automatically follow a lead vehicle, and is getting closer to testing a prototype. Love exists, but they are not together. Reports swirled over the weekend that the entrepreneur, Elon Musk, and Amber called it quits, after publicizing their couple status in April. TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer looks at Thursday's trending stocks. Tesla had roughly 63,000 people cancel their order for the companies Model 3 car in the last year.
Tesla has revised the looks of its Model S sedan. SAN FRANCISCO -- Tesla stock dropped 5% Thursday as investors expressed skepticism over CEO Elon Musk's plan to accelerate and ramp up deliveries of its electric vehicles, with the downdraft likely exacerbated by short sellers. The retreat in Tesla shares (TSLA) comes a day after shares jumped as much as 7% in after-hours trading Wednesday after the Palo Alto, Calif.-based company announced first-quarter earnings that showed a loss narrower than the Street forecast. On a call with investors Wednesday, Musk said the company planned to accelerate its goal of producing 500,000 cars -- most of them its forthcoming entry-level Model 3, for which it has received 325,000 1,000 deposits -- by two years to 2018. But some analysts and investors don't share Musk's optimism.
Tesla's most affordable option, the highly anticipated Model 3, can do 0-60 in under 6 seconds and get at least 215 miles per charge. The Model 3 drove onto a stage through a curtain of fog at a lavish ceremony in a converted hanger adjoining the SpaceX factory in this Los Angeles suburb. Tesla CEO Elon Musk vowed that the car will seat five, hit the highest safety marks and have a range of at least 215 miles a charge. While its performance won't be nearly as breathtaking as its larger sibling, the super-luxury Model S, will be impressive: Zero to 60 miles per hour in less than 6 seconds. To prove the point, Tesla offered test rides with a long straightaway in which the car hurtled down a side road at push-you-back-in-your-seat speeds in near silence.
Tesla posted a first quarter loss of 57 cents per share on revenue of 1.6 billion. Analysts were looking for a loss of 58 cents a share on sales of 1.6 billion. Last year, Tesla lost 36 cents per share on sales of 1.1 billion in its first quarter Newslook Qantas and Tesla "raced" a Boeing 737 vs. a Tesla car in Australia on April 3, 2016, as part of a pubilcity stunt. SAN FRANCISCO -- Tesla's rocky financial road smoothed a bit as the electric automaker Wednesday reported an adjusted loss that was narrower than Wall Street expected, sending shares up 5% after hours. In a shareholder letter released after the close of trading, the company led by Elon Musk cited "overwhelming demand" for its Model 3.