Tesla was in a tailspin on Thursday. Four experts discuss what could happen next.
div > div.group > p:first-child"> Its shares were down more than 8 percent, digging it deeper into negative territory for the year. Investors were spooked following disappointing deliveries numbers overnight and as CEO Elon Musk went up against the Securities and Exchange Commission in a Manhattan courtroom for alleged contempt.
"The key factor here is what's going to happen with demand. The company did reiterate this expectation of 360,000 to 400,000 deliveries in 2019 … 63,000 in the most recent quarter. I think what that sets this up for is they probably are going to miss that number — that 360,000 to 400,000 number — and as someone who believes in this story I'm bracing myself for difficult delivery numbers for this year.
The board is"throwing their trust behind Elon Musk and not exercising their diligence, so I think the judge will have to find some sort of sanctions against the company and the board as well against Elon Musk. They need a super majority to make any dramatic changes on this board, so if it was left to the board's own devices you'd have to have roughly 90 percent of the non-Musk owners agree to make a change. This is not going to come from the board, apparently.
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