Tesla stock jumps after production misses but liquidity concerns addressed

Tesla on Tuesday sought to quash any speculation it might need to raise more capital this year, driving the company's battered shares higher as it also announced it built 2,020 of its Model 3 sedans in the last seven days.

Tesla manufactured 2,020 of the lower-priced model in the final seven days of the quarter, after racing to report higher output to investors.

Tesla (NYSE:TSLA) published its production figures for Q1 2018, indicating that it has made significant progress in scaling up production of its mass-market sedan, the Model 3, which saw production rise fourfold quarter-over-quarter to 9,766 units.

Tesla Inc. fortunes took another hit following a rocky weekend which saw the electric automaker's stock price (NASDAQ: TSLA) fall just over five percent when markets reopened on April 2, with investors anxious about the company's finances and production capabilities. While the amount of debt is eye-opening enough, the company's reported cash burn rate and the fact that its credit rating was recently cut has led to even more questions from investors.

Morgan Stanley warned Tesla shareholders this past week that the drop in the company's stock could be a self-fulfilling prophecy for more declines.

This story will be updated. Musk was known for doing this back when the Model X was being launched to ensure it could reach its production targets.

Fury: Joshua has no panache, no flair... waste of money
The only important title Joshua is now not holding is the World Boxing Council belt presently held by American Deontay Wilder. Joshua took home a £13 million purse and Parker £7 million. "To each their own", Joshua said in his post-fight conference.

A Tesla Model 3 sedan, its first auto aimed at the mass market, is displayed during its launch in Hawthorne, California, US March 31, 2016.

Net Model 3 reservations remained stable through the first-quarter.

Overall for the quarter, Tesla delivered 29,980 cars.

According to the Recommendation Trends of the stock polled by Zacks Investment Research for this month, the company has a consensus recommendation of 2.76 out of the scale from 1 to 5 where 1 stands for Strong Buy and 5 means Strong Sell. It said: "The quality of Model 3 coming out of production is at the highest level we have seen across all our products". The electric carmaker was already dealing with Autopilot safety concerns following a fatal Model X crash as well as Model 3 production issues, but yet another gut punch comes with Bloomberg reporting that China will impose new tariffs on American products including automobiles. It had promised to produce 2,500 a week by the end of the first quarter, which ended Saturday. Tesla stated in its Q4 earnings release that Model 3 has negative gross margins.

"This is the fastest growth of any automotive company in the modern era", Tesla said. It's also sticking with Musk's modified goal from January. However, huge hurdles remain as Palo Alto, California-based Tesla tries to turn the page on one of the most hard chapters in its short history.

Tesla's partner, Panasonic, has more than 300 workers producing solar panels and cells at the Buffalo factory, but Tesla has been much slower to add employees for its part of the factory, where it will focus on a new solar roof that looks like a conventional house roof but has solar cells inside.