Tesla shares bounce back following Elon Musk email to staff
Added 05-23-19 12:04:02pm EST - “Tesla shares made a recovery Thursday after an email by Elon Musk saying the auto company was on track this quarter to beat the previous record for deliveries was leaked on social media and news outlets.” - Foxbusiness.com
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Tesla shares made a recovery Thursday following an email CEO Elon Musk sent to employees saying the auto company was on track this quarter to beat the previous record for deliveries was leaked on social media and news outlets.
In the email sent late Wednesday, Musk hinted that his company was on pace for a record-breaking quarter on deliveries that will top the 90,700 made in Q4 2018, Reuters reported. The CEO said Tesla had over 50,000 net new orders this quarter as of Tuesday, but the company needed to keep producing 1,000 Model 3 cars per day for the rest of the quarter to reach its goal.
Tesla is producing an average of 900 Model 3 cars per day and inching closer to its goal of producing 7,000 vehicles per week, Musk wrote.
The leaked email was widely shared on social media after Tesla shares opened to a 3 percent drop before rebounding within an hour. Thursday broke a six-day losing streak for Tesla shares as trading was up 2.5 percent to $197.61.
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