The company argues that sales from the Model 3 will provide the necessary revenue. However, it had trouble staying on schedule with the production of that vehicle earlier this year. Musk promised investors that the company would chart sustained profits starting this quarter. The period ends at the close of this month.
The Result?
Company stock prices fell by more than 6 percent Friday. It closed at $263.24, its lowest price since April.
Investors are asking the board to remove Musk as CEO or hire a chief operating officer to oversee daily operations.
