The stock fell 4.3% in after-hours trading.
Tesla, Inc. (NASDAQ:TSLA) last session's volume of 5.64 million shares was lower than its average volume of 5.76 million shares.
Tesla's shares jumped slightly on Tuesday when Panasonic's CEO Kazuhiro Tsuga, a production partner, said the Model 3's delays came from problems in automating its battery production line and those problems have been addressed.
"We believe the Model 3 ramp is one to two months behind schedule, but are not concerned as TSLA successfully ramped production of the Model S and Model X, which are more complicated vehicles, and we are confident TSLA will achieve its production targets over the intermediate term", declared Ben Kallo, an analyst at Baird. It had planned to build more than 1,500.
Tesla said in its third-quarter earnings letter that it's still hard to assess when it will sort out the "bottlenecks" that delayed Model 3 production in the third quarter.
Switch expected to outsell Wii U within a year
While Wii U was seen as something like the end of the game for Nintendo , Switch has fueled new life into the company. Meanwhile, lifetime sales for 3DS are just shy of 69 million units, with software sales over 343 million.
FILE PHOTO: A Tesla charging station is seen in Salt Lake City, Utah, U.S. on September 28, 2017. Jefferies Group LLC lowered Tesla from an in-line rating to an underperform rating and reduced their price objective for the stock from $312.00 to $240.00 in a research note on Friday, October 27th.
The company said it has a cash balance of $3.5 billion entering the fourth quarter. But investors' eyes were on the Model 3, the $35,000 vehicle that's meant to move Tesla from a luxury niche automaker into the mainstream. A the time, Tesla wouldn't say much more beyond that i's "committed to the Chinese market" and interested in exploring manufacturing facilities around the world. "Many Model 3 customers put deposits down on the vehicle more than a year ago before they even saw the vehicle, so it's clear Tesla buyers don't follow the usual logic-driven auto buying process".
Thousands of Model 3s were supposed to have been sold by now.
Tesla's shares have had a rollercoaster of a ride, now trading down 1.60% at $326.24, ahead of the company's earnings report on Wednesday.
The news wasn't entirely bad for Tesla, however, the carmaker reporting revenues for the third quarter of $2.98 billion, a record, and up from the consensus forecast of $2.95 billion. Excluding items, the company lost $2.92 per share.