Tesla’s Model 3 is coming on Friday and it’s going to be the ‘largest consumer-product launch ever’

Tesla set a new high on June 23 and has been stumbling since, down over 10% in the past 2 days. It has been a busy week for Tesla. Elon Musk announced on Monday that the Model 3 had passed its regulation requirements and that the first car should be completed on Friday. Tesla also reported disappointing production data for the second quarter. Goldman cut its price target on the stock on Wednesday from $190 to $180. While the range of all analysts' targets is from as low as $155 to as high as $464. Despite the dramatic drop this week the stock is still up nearly 50% year-to-date. Apple analyst Gene Munster says the Model 3 launch will be as big as the introduction of the iPhone. Gavin Baker, portfolio manager of Fidelity OTC, one of the biggest holders of Tesla stock, went a step further in January saying the Model 3 by some measures is "the largest consumer-product launch ever – ahead of any iPhone device." -------------------------------------------------- Follow BI Video on Twitter: http://bit.ly/1oS68Zs Follow BI on Facebook: http://bit.ly/1W9Lk0n Read more: http://www.businessinsider.com/ -------------------------------------------------- Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BI Video team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.

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2017/07/06 Business Insider   Share on Facebook

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