Tesla 3Q production numbers up but can they be sustained?

Elon Musk will remain the CEO of Tesla after stepping down as chairman following a settlement with the

The case focused on Musk's claims in August that funding had been secured for a plan to buy out Tesla's publicly traded shares at a price of $420 and take the company private.

Musk and Tesla have agreed to settle the charges against them without admitting or denying the SEC's allegations.

"As a result of Musk's false and misleading statements and material omissions", said the lawsuit, "investors who purchased Tesla stock in the period after the false and misleading statements but before accurate information was made known to the market were harmed".

'The open board chairperson role creates an opportunity for Tesla to potentially put someone in place that is capable of influencing Musk and helping Tesla reach sustainability, ' said Munster, who is a noted Tesla bull.

The news of Tesla CEO Elon Musk settling with USA financial regulators sent the company's stock soaring Monday morning.

It's a mystery that's been brewing since July: Various locations around the country-including lots, garages, and industrial sites-each have anywhere from dozens to hundreds of Tesla cars parked there. One tweeted to Musk last month: "There are 42 Tesla's sitting at the Union Pacific Railroad in SLC".




Under the agreement with the Securities and Exchange Commission (SEC), Musk and the company each will pay a $20m penalty, and Musk will be barred from serving as chairperson for at least three years.

Critics, including some investors, had pushed for similar changes recently, arguing that a new chairman and a board less tied to Musk would be good for Tesla and its investors.

On Saturday, Tesla chief exec Elon Musk agreed to resign as chairman of the electric-vehicle giant he founded.

By allowing Musk to stay on as CEO under the settlement, the SEC has avoided the possibility that removing Musk from Tesla could cause investors to lose faith in the company's ability to thrive without him, potentially leading to more instability in its share price and value.

"The stock was down so much on Friday because it was unclear if he would remain with the company at all given what the SEC was pushing for", said Garrett Nelson from CFRA Research. Musk and Tesla will each pay a $20 million fine. There remain significant opportunities to grow the addressable market for Model 3 by introducing leasing, standard battery and other lower-priced variants of the vehicle, and by starting global deliveries.

Related news:

Hot News

isis-killer-beheading-video-story-top Flake stokes presidential speculation as court debate rages
Oct 03, 2018 - 01:33
The FBI investigation was launched at the urging of Republican Senators Jeff Flake , Susan Collins and Lisa Murkowski. Collins, who was riding with Murkowski on an underground Senate train, smiled and told her colleague, "Good answer".

isis-killer-beheading-video-story-top Microsoft Reveals the New Surface Laptop 2
Oct 03, 2018 - 01:13
The base model carries a price of $899, and it will shoot up depending on how powerful the top-end version ends up being. Per The Verge , Microsoft has added Intel's 8th generation processor and a new matte black finish to the Surface Pro 6 .

isis-killer-beheading-video-story-top Meghan Markle - Here's What She Thinks Of Her Sister's Threats!
Oct 02, 2018 - 02:58
As fans of the Royal Family know, Samantha has been slamming Meghan in the media and so, she is not interested in meeting her at all.

isis-killer-beheading-video-story-top The Surprise Man Backed To Succeed Jose Mourinho At Manchester United
Oct 02, 2018 - 02:31
I look in the mirror and I want to see where I made mistakes and where I can do better. "No excuses. As players we weren't good enough". "The most important (thing) is what you show on the pitch".

isis-killer-beheading-video-story-top 'Black Mirror' May Be Planning A Choose-Your-Own-Adventure Episode
Oct 02, 2018 - 02:26
At this point, it doesn't really matter since fans are more than likely excited that the show is coming back sooner than later. It's certainly attention-grabbing, and I could see the concept working on an extremely meta-level with Black Mirror .

isis-killer-beheading-video-story-top GE Abruptly Fires CEO John Flannery, Appoints Lawrence Culp as Chief Executive
Oct 02, 2018 - 02:04
The problems deepened in the past two years as GE faced cash-flow shortfalls, slumping demand and investigations by the U.S. Culp, 55 years old, GE brought in a leader who ran what some investors saw as a model industrial conglomerate.

isis-killer-beheading-video-story-top Rockies face Dodgers with NL West title on the line
Oct 02, 2018 - 01:45
And because both teams atop the Central have the best records in the NL, the loser of Monday's early game will host the Wild Card. At least Joe Maddon's team got a taste of the pressure on Sunday when they had to win to just get the shot on Monday.

isis-killer-beheading-video-story-top Justin Trudeau says Canadians are tough negotiators
Oct 01, 2018 - 02:11
The agreement also mandates 40 percent to 45 percent of content will be made by workers earning at least $16 an hour. Trade Representative Robert Lighthizer spoke on Friday, one person said. "Canada has a long way to go".

isis-killer-beheading-video-story-top Hurricane Rosa Expected To Soak Los Angeles, Increase California Surf
Oct 01, 2018 - 01:02
Southwest, prompting tropical storm warnings for the Baja California coast and flash-flood watches for parts of four U.S. states. It is expected to become a tropical storm by late Sunday as it heads northeast toward the Baja California peninsula.

isis-killer-beheading-video-story-top Ohio State at Penn State stream, keys, and White Out predictions
Oct 01, 2018 - 00:29
After the game, Penn State coach James Franklin got wind of that criticism when he walked past a group of fans at Beaver Stadium. No. 4 Ohio State traveled to No. 9 Penn State on Saturday night in a game with major College Football Playoff implications.

isis-killer-beheading-video-story-top Trump 'fell in LOVE' with Kim Jong-un as they wrote letters
Oct 01, 2018 - 00:20
China and Russian Federation have called for a reduction in sanctions on North Korea in exchange for steps it has taken so far. Ri had previously met with Pompeo on Wednesday, during which he extended Pompeo an invitation to Pyongyang from Kim Jong Un .

isis-killer-beheading-video-story-top LSU to hold moment of silence for Wayde Sims on Saturday
Sep 29, 2018 - 20:48
He started 10 games in his previous season, and averaged 5.6 points and 2.6 rebounds. "He was on an upward trajectory", Wade said. No arrests have been made, but the investigation, which has been classified as a homicide , is ongoing.

isis-killer-beheading-video-story-top With Kavanaugh nomination, Trump faces #MeToo - 9/25/2018 11:40:38 PM
Sep 29, 2018 - 20:46
As he wrapped up the press conference, Trump chose to take one last question, and said, "I always like to finish with a good one. When asked if he believes any of the allegations against his Supreme Court nominee , Trump said, "These are all false, to me".

isis-killer-beheading-video-story-top Aaron Ramsey won't let up before he leaves Arsenal - Emery
Sep 29, 2018 - 20:43
Arsenal could be forced into selling the player during the January transfer window if they want to avoid him leaving for nothing. Asked about Saturday's game against Watford, he said: "I am not going to change my idea".

isis-killer-beheading-video-story-top Tsunami, not collapsed buldings, killed most quake victims in Palu: BNPB
Sep 29, 2018 - 20:42
Hospital patients in Palu are being treated outside the building to avoid the danger of potential aftershocks. A footage captured in a mobile phone showing a tsunami hitting Palu, a coastal town, is circulating online.