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Shares of the company, which closed up 8.5 per cent at $285.50 on Monday after two brokerages said it could meet its production targets for the second half of the year, fell almost 2 per cent before the bell on Tuesday. The bonds traded for just 84 cents on the dollar, down from 98 cents a year ago. Tesla has no experience with mass production.

The billionaire's behavior has raised concerns about his leadership and several Wall Street analysts have called for the company to appoint a strong No. 2 to prop up Tesla's operations and standing with investors.

Sacconaghi also noted that behind the noise from the controversies surrounding Elon Musk, Tesla itself appears to be on track for its Model 3 goals this quarter.

That being said, the Nomura Instinet analyst remains optimistic about the progress that Tesla as a company has accomplished with the Model 3 production ramp.

There is a waiting list of more than 400,000 people who want to buy a Model 3, and some have been waiting since March 2016, when the company first started taking orders. That strategy paid off as Tesla built a huge lead in the electric auto race, although that position is under assault from intense competition by rival manufacturers such as Mercedes-Benz and Ford.

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Morton and Toledano, whose departures come shortly after the US Securities and Exchange Commission opened an inquiry into Musk's aborted privatisation plan, join dozens of senior executives who have left Tesla.

Before that, Musk pronounced in early August that he would take Tesla private, but backtracked on that proposal two weeks later.

"While we expect investors will continue to question management turnover, particularly given intense scrutiny on the company, we do not think the turnover is indicative of problems with financial reporting at the company", they added.

According to a June CNBC report, Tesla's paint shop has also had at least four fires, a very rare occurrence in modern auto factories. Musk has promised that as it sells more Model 3s the company will turn a sustained net profit starting this quarter.

And in case you missed it: during his marijuana episode on TV, Musk said he would soon announce a new product that can make anyone superhuman. Tesla stock is up 5.4% in Monday morning trading following Musk's latest comments and after a Baird analyst reiterated his bullish stance.


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