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The plans were revealed the day after a judge approved Tesla and Musk’s combined $40 million settlement with the Securities and Exchange Commission.
A Wall Street analyst just toured the Tesla factory, and says the SEC’s settlement with Elon Musk is overshadowing beefed-up Model 3 production
After touring Tesla's Fremont, California factory, one Wall Street analyst says the SEC news last week is overshadowing an improvement in its factory.
Tesla shares are trading near $269 — a full 11% below the Street's pre-lawsuit average price target of $305.
The criminal probe comes one month after federal prosecutors also opened a fraud investigation relating to the billionaire's claims that funding had been secured to take Tesla private at $420 per share.
‘He doesn’t seem to want to build any confidence’: Wall Street’s starting to ask questions of Elon Musk
For a brief period during Musk’s failed bid to take the company private (and avoid the scrutiny and disclosures that come with being a public company), it looked like Tesla might be safe. Now Wall Street isn't so sure.
Tesla sinks after a notorious short-seller sues Elon Musk over his alleged attempt to burn investors like him
The founder of Citron Research alleged in a California court filing Thursday that Elon Musk's "funding secured" tweet — which sent the stock up 11% in a matter of hours — was sent simply to burn short sellers, who lost more than $3 billion during the stock's surge.
CEO Elon Musk has repeatedly said Tesla will be profitable this year and thus won’t need to tap debt or equity markets for new financing. But Wall Street analysts aren’t quite convinced.
Toyota has invested in Uber and Grab recently, and one analyst is worried Tesla should be looking for new investments, not turning them away is it reportedly did with Volkswagen.
‘We think credibility has taken a hit’: Wall Street is even more worried about Tesla’s financials after Elon Musk’s failed pus...
"Given the company is in a cash crunch currently, with cash excluding deposits at $1.3 billion and debt maturities rapidly approaching, the tone from the company has started to change toward a more acute focus on profitability and cash management, which we appreciate," Cowen told clients Monday.
The reversal could also hurt Musk's credibility, RBC Capital Markets warned. The "whole episode was not planned or fully thought out," analyst Joseph Spak said. He has a $315 price target for the stock, according to Bloomberg,