Tesla curbs paint choices to simplify production - Roadshow

: 'No longer investable': One of Tesla's biggest former bulls just slashed his price target, and the stock is tumbling (TSLA)

Telsa, Inc. (NASDAQ:TSLA) has been all over the news these past few months, as the company has experienced waves of instability and erratic behavior from Tesla's CEO, Elon Musk.

"We occasionally adjust pricing and available options to best reflect the value of our products and to streamline our manufacturing operations", a Tesla spokesperson said.

Bloomberg's Model 3 production monitor suggests that the current weekly production number of the Model 3 is about 3,500 cars per week, not the 6,000 that Musk had suggested back in July.

Tesla shares surged Monday after Baird published a bullish note on the company. A profitable quarter and massive increase in production could re-focus the Tesla narrative around the company's rapid production growth and improving financial prospects. The least expensive Model 3 now available starts at $49,000, according to Tesla's website.

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The electric-car maker finished the day up 8.5 percent, at $285.50, a boost that was also fueled by Baird analyst Ben Kallo urging investors in a note to stick with Tesla "even with the drama". Felicia Mayo, who was senior HR director and head of Tesla's diversity and inclusion program, has been promoted to vice president level and will report to both Kassekert and Musk. While Tesla has had no problems generating demand for the Model 3 (the company said in a regulatory filing that it had around 420,000 net reservations for Model 3 at the end of June, though it has since stopped taking reservations), the long wait for the base model will turn away some customers who would have otherwise bought it, Acevedo said.

Before that, Musk pronounced in early August that he would take Tesla private, but backtracked on that proposal two weeks later. Shares slid 13% last week after CEO Elon Musk was filmed smoking marijuana during a live interview, and amid personnel changes that saw chief accountant Dave Morton resign. The shares fell 2% in pre-market trading on Tuesday.

Tesla is jumping 5% on Monday, after CEO Elon Musk's sunny outlook for the third quarter.

Bernstein's Toni Sacconaghi, for his part, said that Tesla's below $300 share price was an "attractive near-term entry" point, but the analyst remains neutral on Tesla's longer-term performance until investors see if Tesla can pull off Model 3 quality, quantity, and profit margins. Analysts say Tesla may struggle to raise cash until the dark cloud of an SEC investigation is lifted. The Motley Fool owns shares of and recommends Tesla.

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