Throughout much of the last several years the Los Angeles Times has been enthusiastic about Tesla. The paper enthused about the gigafactory, the Model 3, the powerwall and the solar shingles. It was a surprise, therefore, to read the following headline on Saturday in the Times business section: “Tesla enters survial mode as layoffs loom, stock sinks.” The fact is that not much has changed at Tesla from a fundamental standpoint. It still faces the same issue of competing in the hotly competitive and capital intensive automotive market. It still has problems trying to make money while honoring its promise of a $35,000 Model 3. But now sentiment seems to be switching. And sentiment can move much faster than fundamentals. The stock was down over 12% on Friday. It will be interesting to see what happens when trading reopens on Tuesday.