Tesla Stock Crash Archives
Bernstein downgraded Tesla's stock to underperform. On July 1, Wood tweeted Tesla owners at some point in the future will each earn $10,000 in free cash flow every year by including their cars in a Tesla robotaxi network. Factor in an anticipated surge in electric a cars over the next five years from BMW, Ford ( F ) - Get Report and General Motors ( GM ) - Get Report , as TheStreetreports, and the market may be getting ahead of itself on Tesla.
And some do reconnaissance, posting photos and videos of Tesla storage lots, distribution centres, even the company's Fremont assembly plant as seen from above. It wasn't, and by August 20, as reality sank in, Tesla shares were down almost $US100 a share, or 25 per cent from pre-tweet levels.
Tesla's stock is still one of the most shorted stocks on the stock market, though much less so than it was in the recent past. Elon Musk faces losing out on a $346m (£277m) pay package as Tesla's shares crash amid market chaos sparked by the coronavirus outbreak.
Latrilife, who said he's got "six figures" invested in short bets that Tesla's stock price will plummet, hired a helicopter to photograph the Hawthorne garage's top level, the view of which was inaccessible from the public sidewalk. San Francisco: Tesla shares stumbled after its eccentric CEO Elon Musk tweeted on Friday that the company's stock price was too highâ€, triggering a free fall in stock prices.
With the cost of making batteries stubbornly high, Tesla has relied on stock and bond markets, along with government subsidies, to keep afloat. On Tuesday, Moody's Investors Service downgraded Tesla's credit rating, citing its Tesla Analysis output of the Model 3 and financial constraints.
The company's net profit of $104 million for the second quarter marks the first time in its 17 years it has achieved four profitable quarters in a row. The recent rally is a big boon for Mr. Musk, who has gained more than $15 billion from his Tesla stock holdings since the start of the year.
Last week's earnings show the company has now posted a small profit for two quarters in a row, which is causing some investors to think the hyped-up company is finally starting to live up to its promise. That story may well be true, but while technology may be favouring Tesla, the share price performance could tell a different story later on.