It turns out Tesla is making considerable and unnoticed progress on many levels.
We are honest to tell you that at InsideEVs we make a point of not covering Tesla's stock/financial situation. We also try not to share much of the mess that we find related to Tesla in the financial media. Our site is much more interested in the cars themselves, the technology, and the overall progress.
We are not a stock website, we don't follow other automakers' stock situations, and we don't own any automotive shares. Plus, there are a plethora of financial sites and analysts that "appear" to know much more than we do about that side of the equation.%related-news title="More on Tesla "Analysts":" ids="320622,318587,299788"%
As you may well know, much of mainstream media, and more specifically, the financial media, dissects Tesla with a microscope. Much of the news is far from positive. This is true even during times that the Silicon Valley automaker announces new products, sales successes, profits, and other forward-looking statements.
Many argue that these analysts really have no clue and seem to change their tune regularly. In addition, there's the whole situation of reporting based on one's own interests. Needless to say, the Tesla stock situation is more turbulent than virtually any other company in history. However, some analysts actually take the time to dive a bit deeper, to provide some support to back up their claims.
Recently, Wedbush analysts Dan Ives and Strecker Backe had the opportunity to tour the Tesla Gigafactory in Nevada, as well as the automaker's Fremont assembly factory. Fortunately for Tesla, the analysts' experience was positive. According to Teslarati, after the analysts' trip they "doubled down on their bull case, partly due to the progress that the company has made with its battery and electric vehicle production."
Wait, what about that ridiculous tent?
Despite much criticism surrounding Tesla's use of a sprung structure for automotive manufacturing, Ives was impressed with the situation as a whole. He shared:
It was jaw-dropping in how efficient that process has now become in the tent. This is not a company that’s slowing down production.
Ives went further to say that he's happy with the progress at the Tesla Gigafactory. He believes that its battery and drive unit production can easily support the production of some 7,000 Model 3 sedans per week.
In the end, Ives did reference Tesla's growing issues, which are primarily related to CEO Elon Musk's SEC battle. However, he made it clear that, while difficult, it shouldn't really impact the automaker's current and future plans. Ives explained:
I view this as a company where, it was never going to be an easy road for Tesla. A lot of the issues are unfortunate that are happening with the SEC and Musk, and it’s created a sideshow that’s been a bit of an overhang on the name. But I look at the name as the first inning of what I view as a massive EV transformation that’s going to happen over the next decade.
What are your thoughts about Tesla's stock and financial situation, as well as the future of the company overall? Please, let us know in the comment section below.