Investor's Corner
Tesla bear apologizes to clients after releasing inaccurate TSLA note
Gordon L. Johnson, an analyst from Vertical Research Group and an outspoken Tesla bear, issued an apology to his company’s clients on Wednesday, after he published a note containing inaccurate information about the electric car company.
Tesla is currently involved in a class-action lawsuit filed by two investors, Kurt Friedman and Uppili Srinivasan, who alleged that the company, CEO Elon Musk, current Chief Financial Officer Deepak Ahuja, and former CFO Jason Wheeler intentionally misled shareholders about the progress of Model 3 production last year. According to the plaintiffs, Tesla’s executives were aware that the electric car could not be mass produced by the end of 2017. Despite this, Musk and the company as a whole allegedly made “false and misleading statements” about the company’s capability to produce 5,000 Model 3 per week by the end of the year. The plaintiffs noted that the negative market reaction to Tesla’s missed Model 3 goal has hurt their investments.
A hearing for the class-action lawsuit is scheduled for August 31, 2018. Tesla has filed a motion to dismiss the case, especially considering that the company did admit in October 2017 that the Model 3’s production ramp was behind schedule. U.S. District Court Judge Charles Breyer will hear arguments from both plaintiffs and defendants on the upcoming hearing. On July 11, the plaintiffs of the class-action lawsuit wrote a memo calling on Judge Breyer to not dismiss the case. Part of the plaintiffs’ memo, which could be viewed below, was a section reiterating their case against Tesla.
“Defendants concede the material falsity of Defendant Musk’s August 2, 2017 statement conveying then current facts, about ‘a gigantic machine producing—That’s meant for 5,000 vehicles a week and it’s producing a few hundred vehicles a week.’”
These statements, which were part of the memo, were an argument from the plaintiffs of the case. Amidst the stream of negative articles being directed at the electric car maker, some of the company’s staunch critics shared the plaintiffs’ request to the judge on social media. Considering the phrasing of the plaintiff’s memo, some Tesla bears believed that the company had admitted to misleading investors about Model 3 production. Tesla, for its part, noted in a statement to Barron’s that the assertion it admitted to any wrongdoing was “a complete lie.”
Vertical Research Group analyst Gordon L. Johnson, a rather aggressive Tesla bear (as seen in his debate with Tesla bull Trip Chowdhry from Global Equities Research), opted to write a note based on the plaintiffs’ memo to the judge. Similar to other critics on Twitter, Johnson framed his narrative on the assumption that Tesla had admitted to misleading investors. His note was headlined as “TSLA may have Admitted to Actionably False Statements.” As it became evident that he had committed an error, Johnson opted to correct his note, revising his note with a headline stating “ERRATUM.” Johnson also included an apology in his revision.
“We apologize for the inconvenience,” he wrote.
As Tesla heads into its Q2 2018 earnings call, the company’s stock (NASDAQ:TSLA) continues to exhibit volatility, though it recently received votes of confidence from its supporters from Wall Street. Together with Baird analyst Ben Kallo, Morgan Stanley’s Adam Jonas, and Consumer Edge Research’s James Albertine, Nomura Instinet analyst Romit Shah also issued a favorable note about Tesla. Shah reiterated the firm’s Buy rating on the electric car maker’s stock, placing a price target of $450.
“We expect improving fundamentals in Q3, consisting of a step-function up in revenue growth and positive operating leverage, driving shares higher. If Tesla can execute to plan, we believe that the narrative around bankruptcy risk will go away, thereby reducing short interest and driving the stock higher,” Shah wrote.
As of writing, Tesla stock is trading up 1.24% at $301.11 per share.
Disclosure: I have no ownership in shares of TSLA and have no plans to initiate any positions within 72 hours.
Elon Musk
SpaceX to launch military missile tracking satellites through new Space Force contract
SpaceX wins a $178.5M Space Force contract to launch missile tracking satellites starting in 2027.
The U.S. Space Force awarded SpaceX a $178.5 million task order on April 1, 2026 to launch missile tracking satellites for the Space Development Agency. The contract, designated SDA-4, covers two Falcon 9 launches beginning in Q3 2027, one from Cape Canaveral Space Force Station in Florida and one from Vandenberg Space Force Base in California. The satellites, built by Sierra Space, are designed to bolster the nation’s ability to detect and track missile threats from orbit.
The award falls under the National Security Space Launch Phase 3 Lane 1 program, which Space Force uses to move payloads to orbit on faster timelines and at more competitive prices. “Our Lane 1 contract affords us the flexibility to deliver satellites for our customers, like SDA, more easily and faster than ever before to all the orbits our satellites need to reach,” said Col. Matt Flahive, SSC’s system program director for Launch Acquisition, in the official press release.
SpaceX is quietly becoming the U.S. Military’s only reliable rocket
The SDA-4 contract is the latest in a long string of national security wins for SpaceX. As Teslarati reported last month, the Space Force recently shifted a GPS III satellite launch from ULA’s Vulcan rocket to SpaceX’s Falcon 9 after a significant Vulcan booster anomaly grounded ULA’s military missions indefinitely. That move made it four consecutive GPS III satellites transferred to SpaceX after contracts were originally awarded to its competitor.
This didn’t come without a fight and dates back years. SpaceX originally had to sue the Air Force in 2014 for the right to compete for national security launches, at a time when United Launch Alliance held a near monopoly on the market. Since then, the company has steadily displaced ULA as the dominant provider, and last year the Space Force confirmed SpaceX would handle approximately 60 percent of all Phase 3 launches through 2032, worth close to $6 billion.
With missile defense satellites now part of its launch manifest alongside GPS, communications, and reconnaissance payloads, SpaceX is giving hungry investors something to chew on before its imminent IPO.
Investor's Corner
Tesla reports Q1 deliveries, missing expectations slightly
The figure, however, fell short of Wall Street’s consensus estimate of 365,645 units, reflecting ongoing headwinds in the global EV market.
Tesla reported deliveries for the first quarter of 2026 today, missing expectations set by Wall Street analysts slightly as the company aims to have a massive year in terms of sales, along with other projects.
Tesla delivered 358,023 vehicles in the first quarter of 2026, marking a 6.3 percent increase from 336,681 vehicles in Q1 2025.
The figure, however, fell short of Wall Street’s consensus estimate of 365,645 units, reflecting ongoing headwinds in the global EV market. Production reached approximately 362,000 vehicles, with Model 3 and Model Y accounting for the vast majority. The results come as Tesla navigates softening demand, intensifying competition in China and Europe, and the expiration of key U.S. federal tax incentives.
🚨 BREAKING: Tesla delivered 358,023 vehicles in Q1 2026
Tesla also reported record energy deployments of 8.8 GWh
Wall Street had delivery consensus estimates of 365,645 pic.twitter.com/EVNAu5L3UT
— TESLARATI (@Teslarati) April 2, 2026
Energy storage deployments provided a bright spot, hitting a record 8.8 GWh in Q1. This underscores the accelerating momentum in Tesla’s energy segment, which has become a critical growth driver even as automotive volumes stabilize.
Year-over-year, the energy business continues to outpace vehicle sales, with analysts noting strong backlog demand for Megapack systems amid rising grid-scale needs for renewables and AI data centers.
Looking ahead, analysts project full-year 2026 vehicle deliveries in the range of 1.69 million units—a modest 3-5% rise from roughly 1.64 million in 2025.
Growth is expected to accelerate in the second half as production ramps and new incentives emerge in select markets. However, risks remain: persistent high interest rates, price competition from legacy automakers and Chinese EV makers, and potential margin pressure could cap upside.
Tesla has not issued official full-year guidance, but executives have signaled confidence in sequential quarterly improvements driven by cost reductions and refreshed lineups.
By the end of 2026, Tesla plans several major product launches to reignite momentum. The refreshed Model Y, including a new 7-seater variant already rolling out in select markets, is expected to boost family-oriented sales with updated styling, efficiency gains, and interior enhancements.
Autonomous ambitions remain central to Tesla’s mission, and that’s where the vast majority of the attention has been put. Volume production of the Cybercab (Robotaxi) is targeted to begin ramping in 2026, potentially unlocking new revenue streams through unsupervised Full Self-Driving (FSD) deployment.
A next-generation affordable EV platform, possibly under $30,000, is also in advanced planning stages for 2026 or 2027 introduction. On the energy front, the Megapack 3 and larger Megablock systems will drive further deployment scale.
While Q1 highlights transitional challenges in autos, Tesla’s diversified roadmap, spanning refreshed consumer vehicles, commercial trucks, Robotaxis, and explosive energy growth, positions the company for a stronger second half and beyond. Investors will watch Q2 closely for signs of sustained recovery, especially with new vehicles potentially on the horizon.
Elon Musk
Elon Musk debunks latest rumors about SpaceX IPO
Musk has swiftly put to rest circulating reports suggesting that SpaceX would exclude popular retail brokerages Robinhood and SoFi from its highly anticipated initial public offering. In a direct response posted on X on March 31, Musk stated simply, “These reports are false,” addressing widespread speculation fueled by a Reuters article.
Tesla and SpaceX CEO Elon Musk debunked the latest rumors about the space exploration company’s initial public offering (IPO), which has been the subject of a wide array of speculation over the last few weeks.
With SpaceX likely heading to Wall Street to become a publicly-traded stock in the coming months, there is a lot of speculation surrounding how it will happen, whether the company will potentially combine with Tesla, and more.
Tesla and SpaceX to merge in 2027, Wall Street analyst predicts
But the latest rumors have to do with where SpaceX will list the stock.
Musk has swiftly put to rest circulating reports suggesting that SpaceX would exclude popular retail brokerages Robinhood and SoFi from its highly anticipated initial public offering.
In a direct response posted on X on March 31, Musk stated simply, “These reports are false,” addressing widespread speculation fueled by a Reuters article.
These reports are false
— Elon Musk (@elonmusk) March 31, 2026
The Reuters report, published March 30, claimed that Morgan Stanley’s E*Trade was in talks to lead the sale of SpaceX shares to small U.S. investors.
Sources indicated that Robinhood and SoFi, despite pitching for roles, faced potential exclusion from the retail allocation, with Fidelity also competing for a piece of the action. The story quickly spread across financial media, raising concerns among retail investors eager to participate in what could be one of the largest IPOs in history.
SpaceX has a reported valuation nearing $1.75 trillion, and Musk’s plan to allocate up to 30 percent of shares to individual investors — far above the typical 5-10% — had generated massive excitement.
Musk’s concise denial immediately calmed the narrative. The original X post quoting the rumor garnered significant engagement, with users expressing relief that everyday investors would not be sidelined.
This episode reflects Musk’s hands-on approach to SpaceX’s public debut.
Earlier reporting revealed plans for an unusually large retail slice to leverage Musk’s dedicated fan base and stabilize post-IPO trading. SpaceX aims to file potentially as early as this period, building on momentum from its Starship program and Starlink growth.
The IPO could mark a transformative moment, potentially elevating Musk’s status further while democratizing access to a company long reserved for accredited investors and institutions.
The rumor’s quick debunking also revives debates about retail access in high-profile listings. Robinhood gained popularity during the 2021 meme-stock surge but faced criticism for past trading restrictions.
SoFi has positioned itself as a modern financial platform for younger investors. Excluding them could have limited participation from tech-savvy retail traders who form a core part of Musk’s supporter base across Tesla and SpaceX.
While details remain fluid, Musk’s intervention reinforces commitment to broad accessibility. As preparations advance, investors await official filings. For now, the message is clear: rumors of restricted retail access were overstated, keeping the door open for widespread participation in SpaceX’s public chapter.
This development comes amid broader market enthusiasm for space and technology stocks. Musk’s transparency through X continues to shape public perception, distinguishing SpaceX’s path from traditional Wall Street norms. With retail allocation potentially reaching 30 percent, the IPO promises to be both commercially massive and culturally significant.
Elon Musk calls out $2 trillion SpaceX IPO valuation as ‘BS’
Elon Musk reveals date of SpaceX Starship v3’s maiden voyage
