Tesla’s bad news accelerates as Wall Street loses faith

Late last year, Tesla Inc. was fully charged and cruising down the highway on Autopilot.

Shares were trading above $370 each, sales of the Model 3 small electric car were strong and the company had appointed a new board chair to rein in the antics of sometimes impulsive CEO Elon Musk.

But around the middle of December, investors started having doubts about the former Wall Street darling's prospects for continued growth, and the stock started a gyrating fall that was among the worst in company history.

For the year, the share price is down around 40%, largely on concerns Tesla is running out of buyers for its vehicles, which range in price from a base $35,400 Model 3 to a larger Model X SUV that can run well over $130,000.

Morgan Stanley analyst Adam Jonas, on a private call with investors this week, raised the possibility that Tesla would have to be restructured due to rising debt and falling sales. Read more on NewsOK.com

Late last year, Tesla Inc. was fully charged and cruising down the highway on Autopilot.

Shares were trading above $370 each, sales of the Model 3 small electric car were strong and the company had appointed a new board chair to rein in the antics of sometimes impulsive CEO Elon Musk.

But around the middle of December, investors started having doubts about the former Wall Street darling's prospects for continued growth, and the stock started a gyrating fall that was among the worst in company history.

For the year, the share price is down around 40%, largely on concerns Tesla is running out of buyers for its vehicles, which range in price from a base $35,400 Model 3 to a larger Model X SUV that can run well over $130,000.

Morgan Stanley analyst Adam Jonas, on a private call with investors this week, raised the possibility that Tesla would have to be restructured due to rising debt and falling sales.
Read more on NewsOK.com

Read more on Newsok 

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