Tesla Shares Shrug Off Crash Concerns as Model 3 Speeds Up
(Bloomberg) -- What a week this has been for Tesla investors.
March ended on a particularly sour note for the electric vehicle maker after a smorgasbord of troubles -- from a fatal Model X crash to a brewing trade war with China -- depressed valuation, with the company’s stock price taking a 12 percent plunge in just the last week of the month.
Most analysts warned April could see more of the same as Tesla was widely expected to miss its own production guidance of 2,500 Model 3s per week. While the company did miss the target, the market had expected a much worse show and shares started rebounding sharply. The stock is now up 13 percent this week, effectively gaining back all the value it had lost since the crash news triggered a selloff.
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