Elon Musk is confident that Tesla Inc. (TSLA) will soon give investors something to cheer about.
The electric car maker is expected to report third-quarter production numbers on Tuesday, following a period of turbulence, including a run-in with securities regulators that culminated in Musk being ousted as Tesla’s chair and hit with a multimillion-dollar fine. The company’s CEO is confident that the numbers will help to win back investors and “prove the naysayers wrong.”
“Ignore all distractions. One more hardcore weekend and we will all be victorious,” Musk wrote in the first email sent Friday Sept. 28. “Thanks for being amazing.”
On Sunday, the tech entrepreneur then followed this up with another email, pleading with staff to “go all out” to help the company achieve its goals. “We are very close to achieving profitability and proving the naysayers wrong, but to be certain, we must execute really well tomorrow (Sunday). If we go all out tomorrow, we will achieve an epic victory beyond all expectations. Go Tesla!!”
Late last month, Electrek reported that Tesla had already broken its record ahead of the third quarter's close, adding that the company is set to exceed its guidance of 50,000 - 55,000 Model 3s.
News that the embattled car maker looks set to deliver on its ambitious targets helped to send its downtrodden shares up 15.4% in pre-market trading. Investors were also pleased to discover ahead of Monday’s trading session that Tesla has reached a settlement with the Securities and Exchange Commission.
Last week, federal regulators threatened to ban Musk from running a public company after determining that he misled investors when tweeting that he had secured funding to take Tesla private. The threats led the electric car maker’s market valuation to drop as investors questioned whether Musk, recognized as the centerpiece of Tesla’s innovative spirit, would be stripped of his role in running the company. (See also: 5 Takeaways From the SEC's Complaint Against Musk.)
Over the weekend, regulators put an end to further uncertainty by announcing that they had reached a settlement with Tesla. Under the terms of the deal, the company and its CEO will pay a fine of $20 million each. Musk has also been forced to step down as chair of the board. (See also: Musk To Resign As Tesla Chair, Remain As CEO In SEC Settlement.)