Sometimes you can't get enough good news. Just ask Tesla investors who began 2019 by hammering the automaker's stock over the first two trading days of the year.
Tesla shares tumbled 9.7 percent Wednesday and Thursday — despite closing out 2018 with record sales and production numbers.
Investors appeared to be focusing more on potential roadblocks that could be lying in wait, including a flood of new competition and the phase-out of the federal tax credits that offset the cost of Tesla's battery-electric vehicles. It didn't help that the company's fourth-quarter deliveries — the number of cars delivered to customers — were released Wednesday and narrowly missed what analysts had been expecting for the final quarter of the year.
Tesla CEO Elon Musk marked the end of the year by tweeting congratulations to his team, and few would doubt they deserved his good words, since 2018 was a challenging year for the automaker. It started out with what Musk had dubbed "production hell" at the company's Fremont, California, assembly plant and saw the South African-born CEO himself create a series of crises, among other things, by claiming he had come up with a plan to take the company private. Now, the question is what will 2019 bring? And there, investors and analysts seem to disagree about whether the glass is half-empty or half-full.